An experimental study was conducted on the thermal conductivity of various grouting materials for geothermal heat exchanger which is used as a heat sink or source in the heat pump system. The grouting of the vertical heat exchanger is important for environmental and heat transfer reasons and is generally accomplished by the placement of a low permeability material into the annular space between the borehole wall and the pipes suspended in the borehole. In this study, a lab scale test apparatus was made and measured the thermal conductivity of four grouting materials. As a result, the temperature rising tendency was similar among them, but the increasing rate was different. Thus the thermal conductivity showed a maximum difference of $27\%$ among grouting materials.