The continuous exploration of oil wells has increased the demand for plug and abandonment procedures. Current techniques used for well plugging involve the cementing process, which is extremely expensive and difficult to perform. Aiming to overcome these challenges, a new approach in this area has been investigated. This novel technology, named here as Thermal Plug and Abandonment (TP&A), proposes a chemical mixture that would be introduced through the production tube or the steel casing. Then, this mixture is ignited and the exothermic reaction generates enough heat to melt the wellbore components. After the cooling stage, the solidified mass composed by these components and the products of the reaction will serve as a seal to plug the well. Under such circumstances, this work aims to investigate this new technology assuming a thermite mixture that is introduced through the steel casing. For that, a numerical analysis is employed to investigate the heat conduction and the phase change through the oil well structure, which is modelled as a two-dimensional axisymmetric domain. The heat generated by the reaction is approached as a spatial and time-dependent heat flux profile that was estimated based on experiments found in literature. The thermal behavior is assessed to discover if the heat generated by the reaction is enough to form a plug composed by all components found in an oil well environment. It was found that temperatures are high enough to melt most part of the steel and a significant amount of the cement layer. The investigation also found that temperatures heavily drop through the cement layer, which avoids any notable melting of the cap rock. Finally, the heat fluxes’ profiles were increased, and it was found that a TP&A procedure that accounts for a seal composed by only the thermite products and the melted steel layer might be a more practical approach.