An experimental investigation of a Reversible Loop Heat Pipe (RLHP) was conducted to determine the operating limits and performance characteristics as functions of the thermophysical parameters, the heat input, and the cooling intensity. Variations in both temperature and heat transport capacity were measured and analyzed in order to accurately evaluate the transient operating characteristics. In addition, the maximum heat transport as a function of the mean evaporator temperature, the ratio of heat transport to heater input power as a function of the mean evaporator temperature, and the overall thermal resistance as a function of the overall heat transport capacity were examined as well. Results indicated that the cooling intensity played an important role on the operating characteristics and performance limitation. The maximum heat transports corresponding to cooling intensity $72W/^{circ}C$ and $290W/^{circ}C$ were 446 W and 924 W, respectively. Also, observation of the startup characteristics indicated that the mean evaporator temperature should be maintained between $40^{circ}C$ and $60^{circ}C$, and overall thermal resistance were measured as $0.02^{circ}C/W$.