Basic physical properties, mechanical, hygric, and thermal properties of three lime plasters containing metakaolin as pozzolana admixture and provided with different amounts of hydrophobizing additive are investigated in the paper. As the designed plasters are intended for renovation of historical buildings, their properties are compared with two commercial renovation renders commonly used in the building practice. Experimental results show that using the hydrophobizing additive in the amount of 1 % of the mass of binder is the most prospective solution.