The enthalpy and entropy changes in a commercial lithium-ion cell were studied by using potentiometric measurements. The experiments were done on the full cell and individually on its electrode materials, LiFePO4 and artificial graphite. The graphite electrode entropy change follows the amount of intercalated lithium, whereas the LFP electrode entropy change is independent of the lithium content. The full cell entropy change behavior can be concluded to originate from the graphite electrode. For the states of charge between 30 and 75%, the full cell entropy change is positive in the discharge direction, causing the cell to absorb heat. Thus when low discharge currents are used, this entropy effect dominates over the irreversible, heat producing losses, and as a result the cell cools down. In the charge direction the entropy change has the same absolute value but is negative in sign. Because of this, the cell produces extra heat in addition to the irreversible heat production, and thus warms up. These phenomena were confirmed in a calorimetric experiment. The thermal behavior results can be utilized in designing the battery pack cooling system and in choosing favorable states of charge for the battery cycling.