Double layered tube that has been used for transportation and oil piping system is occasionally exposed to elevated temperature. The change in stress state at elevated temperature is important for the safe design of double layered tube. In this study, the variation of stress state for hydroformed double layered tube of which inner tube is stainless steel and outer tube is mild steel has been analytically analyzed. To characterize the thermal stress at elevated temperature, analytical model to provide thermal stresses between outer tube and inner tube was developed by using theories of elasticity and Lame equation. The feasibility of analytical model is verified by finite element analysis using ANSYS $CLASSIC^{TM}$, commercially available code. The variation of thermal stress at various thickness combination of inner and outer tube has also been investigated by proposed analytical model.