Thermal storage plays a vital role in improving the overall efficiency of a waste heat recovery system. A phase change storage system exhibits high energy storage density and isothermal behavior during the charging and discharging processes. In the present work, the cascading arrangement of the phase change storage system is studied to analyze the improvement in the efficiency of the storage system during the charging process, and to compared it with a single storage tank system. The performance parameters, such as the amount of heat recovered, the heat lost, charging rate, charging efficiency, and the percentage of energy saved, are investigated in detail.