The fluidized solid particles not only increase heat transfer rates but have a cleaning function eliminating contaiminated substances caused from condensate water. An experiment was performed to measure heat transfer rates and pressure drops in a fluidized heat exchanger with circulating solid particle for constant heat transfer rate. As a results, the heat transfer rate increased by 26.9~2.6%, heat transfer coefficient by 11.9~2.7%, and pressure drop by 79.1~10.9% at the gas velocity of 6.1 ~12.1 m/s and solid particle flow rate of 100~50 kg/h with the heat exchanger of H: 50 mm, $D_p=2 in,; and;D_{BP}$=30 mm.