  We obtain a black hole solution in the Einstein-Gauss-Bonnet theory for the
string cloud model in a five dimensional spacetime. We analyze the event
horizons and naked singularities. Later, we compute the Hawking temperature
$T_{\mathrm{H}}$, the specific heat $C$, the entropy $S$, and the Helmholtz
free energy $F$ of the black hole. The entropy was computed using the Wald
formulation. In addition, the quantum correction to the Wald's entropy is
considered for the string cloud source.
  We mainly explore the thermodynamical global and local stability of the
system with vanishing or non-vanishing cosmological constant. The global
thermodynamic phase structure indicates that the Hawking-Page transition is
achieved for this model. Further, we observe that there exist stable black
holes with small radii and that these regions are enlarged when choosing small
values of the string cloud density and of the Gauss-Bonnet parameter. Besides,
the rate of evaporation for these black holes are studied, determining whether
the evaporation time is finite or not. Then, we concentrate on the dynamical
stability of the system, studying the effective potential for s-waves
propagating on the string cloud background.
