This paper discusses the use of the topology optimization formulation for designing a heat dissipating structure that utilizes forced convective heat transfer. In addition to forced convection, there is also natural convection due to natural buoyancy forces induced by local heating inside fluid. In the present study, the temperature distribution due to forced convection, neglecting buoyancy and viscous dissipation inside fluid, was simulated and optimized. In order to analyze the heat transfer equation with forced convective heat loss and the Navier-Stokes equation, a common sequential computational procedure for this thermo/hydraulic characteristic was implemented. For topology optimization, four material properties were interpolated with respect to spatially defined density design variables: the inverse permeability in the Navier-Stokes equation, the conductivity, density, and the specific heat capacity of the heat transfer equation. From numerical examples, it was found that the balance between the conduction and convection of fluid is of central importance to the design of heat dissipating structures.