We have been studying on a suspension as a new thermal storage material. The suspension is made from water and some additive with cooling and stirring. When designing the ice storage system using this suspension, the thermal conductivity of the suspension is essential. The purpose of this study is to measure a thermal conductivity of the ice-water suspension with good fluidity. The thermal conductivity was measured by a hot wire method. In this study, the relationship between thermal conductivity and IPF was clarified, and thermal conductivity was expressed as a function of IPF. Moreover, the uncertainty of measurement of the thermal conductivity was examined.