The purpose of this study is to understand the characteristics of hourly PET(Potential Evapo Transpiration) variation estimated using Penman ET model. The estimated PET using Penman model was compared with measured ET. For this study, two subwatersheds were selected, and fluxes, meteorological data and soil moisture data were measured during the summer and winter days. During the winter days, the aerodynamic term of Penman ET is much greater than that of energy term of Penman ET for dry soil condition. The opposite phenomena appeared fer wet soil condition. During the summer days, energy term is much more important factor for ET estimation compared with aerodynamic term regardless of soil moisture condition. Penman ET, measured ET, and energy term show the similar hourly variation pattern mainly because the influence of net radiation on the estimation of Penman ET is much more significant compared with other variables. Even though there are much more soil moisture in the soil during the wet days, the estimated hourly ET from Penman model and measured hourly ET have smaller values compared with those of dry days, indicating the effect of cloudy weather condition.