A liquid-type temperature rise inhibitor (L-TRI) based on modified sorbitol was developed to solve the thermal cracking issue by modulating the heat release from cement hydration during the early age. Both the exothermic process and phase evolution of cement pastes blended with/without L-TRI were investigated by the combination of isothermal calorimetry, in-situ XRD, ICP-OES and SEM. Also, the adsorption of the L-TRI in the cement paste was identified by total organic carbon analysis. The testing results suggested that the L-TRI affected the heat flow curve in two ways. It prolonged the induction period as a retarding effect. It also reduced the heat flow during the acceleration period and decreased the maximum heat flow as a depressing effect. The retarding effect was mainly caused by the complexation of unabsorbed molecules in the pore solution, and the depressing effect was caused by inhibiting the growth of C-S-H.