Recycled waste materials obtained from industrial and agricultural processes are becoming promising thermal and acoustic insulating solutions in building applications; their use can play an important role in the environmental impact reduction. The aim of the present paper is the evaluation of the thermal performance of recycled waste panels consisting of cork scraps, rice husk, coffee chaff, and end-life granulated tires, glued in different weight ratios and pressed. Six panels obtained from the mixing of these waste materials were fabricated and analyzed. In particular, the scope is the selection of the best compromise solutions from the thermal and environmental points of view. To this aim, thermal resistances were measured in laboratory and a Life Cycle Assessment (LCA) analysis was carried out for each panel; a cross-comparative examination was performed in order to optimize their properties and find the best panels solutions to be assembled in the future. Life Cycle Analysis was carried out in terms of primary Embodied Energy and Greenhouse Gas Emissions, considering a ‘‘cradle-to-gate” approach. The obtained thermal conductivities varied in the 0.055 to 0.135 W/mK range, in the same order of magnitude of many traditional systems. The best thermal results were obtained for the panels made of granulated cork, rice husk, and coffee chaff in this order. The rubber granulate showed higher values of the thermal conductivity (about 0.15 W/mK); a very interesting combined solution was the panel composed of cork (60%), rice husk (20%), and coffee chaff (20%), with a thermal conductivity of 0.08 W/mK and a Global Warming Potential of only 2.6 kg CO2eq/m2. Considering the Embodied Energy (CED), the best solution is a panel composed of 56% of cork and 44% of coffee chaff (minimum CED and thermal conductivity).