Exercise physiology of fish was studied by means of Electro-cardio-gram(ECG) technique with wired electrode system. Effects of swimming activity on the heart rate change for carp Cyprinus carpio was observed and analysed under swimming speeds among 1~3 Body Length/s and swimming durations of 10 and 60 minutes in the flume tank. The heart rate increase during swimming activity was observed in higher speed and longer duration conditions. The exercise effect on the heart rate continued even after fish stopped swimming. The time for recovery after exercise was tended to be elongated with the higher exercise condition