Paraffin wax is mostly found as a white, odorless, tasteless, waxy solid, with a typical melting point between about 46 and 68 °C (115 and 154 °F),and a density of around 900 kg/m3.It is insoluble in water, but soluble inether, benzen,and certain esters. Paraffin is unaffected by most common chemical reagents but burns readily.Its heat of combustion is 42 kJ/g. 

Paraffin wax is an excellent electrical insulator,with a resistivity of between 1013 and 1017 ohm metre.This is better than nearly all other materials except some plastics (notably Teflon). It is an effective neutron moderator.

Paraffin wax is an excellent material for storing heat,with a specific heat capacity of 2.14–2.9 J g−1 K−1 (joules per gram kelvin) and a heat of fusion of 200–220 J g−1.This property is exploited in modified drywall for home building material: a certain type of wax (with the right melting point) is infused in the drywall during manufacture so that it melts during the day, absorbing heat, and solidifies again at night, releasing the heat.Paraffin wax phase-change cooling coupled with retractable radiators was used to cool the electronics.Wax expands considerably when it melts and this allows its use in wax element thermostats for industrial, domestic and, particularly, automobile purposes. 

In industrial applications, it is often useful to modify the crystal properties of the paraffin wax, typically by adding branching to the existing carbon backbone chain. The modification is usually done with additives, such as EVA copolymers, microcrystalline wax, or forms of polyethylene.The branched properties result in a modified paraffin with a higher viscosity, smaller crystalline structure, and modified functional properties. Pure paraffin wax is rarely used for carving original models for casting metal and other materials in the lost wax process, as it is relatively brittle at room temperature and presents the risks of chipping and breakage when worked. Soft and pliable waxes, like beeswax, may be preferred for such sculpture, but "investment casting waxes," often paraffin-based, are expressly formulated for the purpose.

In a pathology laboratory, paraffin wax is used to impregnate tissue prior to sectioning thin samples of tissue. Water is removed from tissue through ascending strengths of alcohol (75% to absolute) and the tissue is cleared in an organic solvent such as xylene. The tissue is then placed in paraffin wax for a number of hours and then set in a mold with wax to cool and solidify; sections are cut then on a microtome.