One of the effective means to transfer the heat into and from the energy storage medium is thermosyphon. In this study, a two-phase closed thermosyphon with circular fins was used to extract the thermal energy stored in paraffin wax (Sunoco p-116). Heat transfer characteristics along the heat flow path were investigated as well as the overall performance. Some of the important results are as follows: (1) The temperature distribution of the wax in the radial direction was always maintained fairly uniformly; (2) Compared with bare thermosyphon, the heat transfer rate was vastly improved in the early stage of the experiment; and (3) Heat transfer coefficient between the wax and evaporating section of thermosyphon remained nearly constant during the experiment.