The invention relates to a PCM-based heat exchanger (1) exploiting the characteristics of a phase change material (PCM), comprising a base (100); a metallic heat exchanger (101) adapted to be included into the base (100) and having a plurality of hollow volumes (104) defined by a network of metallic walls (105); a PCM (103) adapted to be included into the metallic heat exchanger (101) so to fill the plurality of hollow volumes (104); and at least one metallic tubular element 102 having an inlet, an outlet and a hollow body adapted to allow a fluid flow, operatively connected with the metallic heat exchanger 102 wherein each point of the PCM (103) is at maximum 5 mm far from a wall of the network of metallic walls (105), the metallic heat exchanger (101) or from the metallic tubular element (102). The heat exchanger (1) is particularly adapted to be implemented into an infant incubator; accordingly, the invention also features an infant incubator comprising the heat exchanger (1), which is especially suitable for use in developing countries.