A heat exchanger (100,000 W) using two-phase loop thermosyphons (TLT) was developed as a waste heat recovery system. An experimental and simulation study was carried out on the heat transfer characteristics of TLT heat exchanger, and the results from the experiments were used to see the possibility which the TLT heat exchanger could be an alternate solution for waste heat recovery system. The experimental results showed the provisional results as a waste heat recovery system. Also computer simulation code can predict the TLT system about the effects of various variables for the operation. Computer simulation results based on the thermal resistance networks were compared with the experimental results. The study clearly shows that the computer simulation for the TLT heat exchanger can Predict the most cases of the affecting parameters involved, provided that correct empirical correlations are used.