A phase change material (PCM) is used for thermal storage for LED-based lighting systems. The PCM is placed in a sealed container in close contact with the LED to be cooled. The PCM is selected such that its melting point temperature is approximately the preferred operating temperature of the LED. When the PCM absorbs heat from the LED as a solid, its temperature rises. However, when the PCM reaches its melting point, the temperature of the PCM stays at its melting point temperature until the phase of the PCM changes completely from a solid to a liquid. Then the PCM continues to rise in temperature. Because a PCM can absorb a large amount of heat during its change of phase from a solid to a liquid, the PCM can store a large amount of heat generated by the LED while maintaining its melting point temperature.