A heat conserving cover for a wall mounted air conditioning unit which comes in a knocked down condition and is capable of being readily assembled by the user at the point of installation into a tray or box shaped cover having a front wall and four side walls which are adapted to completely enclose the portion of the air conditioner extending into the room and adapted to abut with the wall structure supporting said air conditioner to provide an airtight seal therewith. The cover is composed of wall structure which has insulation throughout and an ornamental exterior so that it has the appearance of a piece of furniture, lending to the attractiveness of the cover in the room.