Micrometeoroids and Orbital Debris are a significant problem in Low Earth Orbit, a problem which will worsen as humans continue to send satellites and other objects to space. This is a danger to spacecraft, as the increased amount of debris creates a higher risk of collision and subsequent catastrophic damage. One potential solution to this problem is the addition of a self-healing system to the thermal protection system that will activate should the thermal protection system be damaged. This paper examines and characterizes Dual Purpose Goop, a potential self-healing material to be used in a vascular self-healing architecture. Eight tests were performed to characterize this material for self-healing applications in a space environment: (1) outgassing, (2) char yield and characteristics, (3) thermogravimetric analysis (TGA), (4) high temperature flow survivability, (5) viscosity, (6) phase evolution, (7) spectral analysis (emissivity), (8) thermal conductivity. These tests were performed in order to understand how Dual Purpose Goop would perform as a self-healing material, how it would perform in the space environment, and how it would perform under atmospheric entry conditions. Taken together, performance in these areas may indicate whether Dual Purpose Goop is an acceptable self-healing material in a thermal protection system. Additionally, these material properties can be used in computational modeling, which is necessary as there are no facilities available to accurately reproduce the environment seen on reentry.