This study deals with the use of the conjugate gradient method for the simultaneous estimation of two unknown boundary heat fluxes on the slab in reheating furnace. Temperature measurements by the experiment are used in the inverse analysis. The heat flux estimations for three different cases of measurement locations in the slab are performed: non-skid, skid, and shift-skid zones. The estimated heat fluxes for three cases indicated the three regions having local peak values of heat fluxes. The estimated temperatures at measurement locations were in good agreements with the measured temperatures within 5% relative error.