Supported by thousands of years of history, traditional Huizhou buildings have played a vital role, both functionally and culturally, as residential buildings in China. Masonry walls are one of the key building components of a Huizhou building; however, the traditional Huizhou masonry wall structure, predominantly a hollow brick structure, cannot meet the local building energy code requirements, and thus needs to be improved. Within this context, the present research measures the actual thermal performance of traditional Huizhou masonry walls for historical buildings and new-built buildings, which results in mean thermal transmittances of 1.892 W/m2·K and 2.821 W/m2·K, respectively, while the local building energy code requires a minimum thermal transmittance of 1.500 W/m2·K. In order to improve the thermal performance of traditional Huizhou masonry walls, four design scenarios for wall insulation are proposed and tested in a climate chamber: (1) hollow brick wall with inorganic interior insulation mortar, (2) solid brick wall with inorganic interior insulation mortar, (3) hollow brick wall with foamed concrete, and (4) hollow brick wall with foamed concrete plus inorganic interior insulation mortar. The experiment results indicate that, among the four proposed design scenarios, only scenario 4 can significantly improve the thermal performance of Huizhou masonry walls and meet the building energy code requirements, with a mean thermal transmittance of 1.175 W/m2·K. This research lays the foundation for improving the thermal performance of Huizhou masonry walls with new insulation and construction technology, thereby helping to improve the quality of life of Huizhou residents while respecting the cultural significance of the traditional Huizhou building.