Low energy limits of a string theory suggests that the gravity action should include quadratic and higher-order curvature terms, in the form of dimensionally continued Gauss-Bonnet densities. Einstein-Gauss-Bonnet is a natural extension of the general relativity to higher dimensions in which the first and second-order terms correspond, respectively, to general relativity and Einstein-Gauss-Bonnet gravity. We obtain five-dimensional (5D) black hole solutions, inspired by a noncommutative geometry, with a static spherically symmetric, Gaussian mass distribution as a source both in the general relativity and Einstein-Gauss-Bonnet gravity cases, and we also analyzes their thermodynamical properties. Owing the noncommutative corrected black hole, the thermodynamic quantities have also been modified, and phase transition is shown to be achievable. The phase transitions for the thermodynamic stability, in both the theories, are characterized by a discontinuity in the specific heat at r_+=rC , with the stable (unstable) branch for r < (>) rC . The metric of the noncommutative inspired black holes smoothly goes over to the Boulware-Deser solution at large distance. The paper has been appended with a calculation of black hole mass using holographic renormalization.