Since the energy storage method by means of the thermochemical reaction has no heat loss by separating the reactants under the storage period, it is remarked as one of promising means particularly for long-term heat storage. In this study, the heat-storage/-release characteristics of the reversible chemical reaction cycle, $Ca(OH)_2/CaO$, is numerically analysed by a mathematical modelling. As a result, the effectiveness of the heat exchanger by the chemical heat storage method is considerably higher than that by the sensible heat storage method. It is found that the major parameters, which determines the effectiveness of the heat exchanger, are the mass flow rate and inlet temperature of fluid, the residence time, etc.. The heat-storage/-release period can be controlled by changing the operation conditions. It is expected that the results obtained here will supply useful informations in designing a regenerative heat exchanger utilizing the thermochemical reaction.