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This paper reviews briefly the definition of heat capacity and clarifies the defined specific heat capacity and volumetric heat capacity. The specific heat capacity and volumetric heat capacity, with our measured experimental data for CuO nanofluids, are discussed as an illustrating example. The result indicates that the specific heat capacity of CuO nanofluid decreases gradually with increasing volume concentration of nanoparticles. The measurement and the prediction from the thermal equilibrium model exhibit good agreement. The other simple mixing model fails to predict the specific heat capacity of CuO nanofluid. The nanoparticle size effect and solid-liquid interface effect on the specific heat capacity of nanofluid are discussed.