The transition to a more sustainable energy system with a growing amount of intermittent renewable energy sources brings an increasing need for flexibility measures to maintain balance between supply and demand. Buildings represent a promising source of demand-side flexibility due to their large energy demand and thermal mass. This review provides insights into the storage potential of building thermal mass, and the benefits and challenges it brings. It is found that building thermal mass storage have good ability to shift loads on short term, from peak to off-peak hours. This ability can be utilized for different purposes, for instance reduced costs for end-users or energy providers, reduced primary energy demand, or reduced CO2 emissions. Furthermore, this review explores different factors that influence the storage potential of building thermal mass, with special attention paid to the heat emission system. It is shown that hydronic floor heating is beneficial compared to radiators since it directly can activate the thermal mass with smaller impact on the indoor temperature. It is also found that the factor with largest impact is the envelope insulation level; increased insulation level brings improved storage efficiency and prolonged thermal autonomy but also decreased storage capacity and increased risk of overheating. Finally, research gaps are identified. © 2023 The Authors