A numerical investigation of the performance of the plate heat exchanger with rectangular winglet is conducted to examine the combined effect of vortex generator and louver fins. Velocity and temperature fields and spanwise averaged Nu and friction factor are presented. Enhancement of heat transfer and flow loss penalty is evident. A Parametric study of three factors (Re, angle of attack and louver angle) with levels of 5 (Re= 300, 500, 700, 900, 1100), 4($alpha=15^{circ}, 30^{circ}, 45^{circ}, 90^{circ},$), and 4($eta=0^{circ}, 15^{circ}, 30^{circ}, 45^{circ}$), respectively, indicates the performance defined by the ratio of heat transfer enhancement to flow loss penalty shows monotonic behavior for each parameter alone but the interactions between parameters is found to be considerable effect on the performance of heat exchanger and should be considered in design. The effect of stamping is also examined.