The thermal behavior of the indium particles dispersed in silicon oil was studied by means of a differential scanning calorimetric experiment. The process of aggregation and growth of indium particles dispersed in oil is different from that of clean and dry indium particles. When the percentage of indium particles in the oil is large, the indium particles can coalesce and grow after heating to above the melting point, whereas the indium particles cannot coalesce and grow when the percentage of indium particles in the oil is small.