In this study, the coefficient of performance of a vapour compression heat pump system was analyzed for the evaluation of the heat pump performance. A water-to-air heat pump was assembled and tested by changing the level of the compressor driving speed and the air mass flow rate during air heating process. The coefficient of performance for air heating was 2.6~3.8 and that for water cooling was 1.0~1.4. The coefficient of performance was not depending on the levels of the compressor driving speed or levels of the air mass flow rate, but on the temperature of the air and water. The coefficient of performance for air heating increased by about 0.2 with the water temperature increasing by 1$^{circ}C$.