Abstract: Heat pump is the device which can transform low grade heat energy into high grade heat energy. There is a lot of waste heat from circulating cooling water in thermal power plants, the heat pump has the ability to recover the waste heat to provide hot water or preheat the condensate. The five schemes of using circulating water or turbine exhaust steam as heat resource were introduced, then three generating units with the rating loads of 200MW, 300MW and 600MW were selected as examples for analysis in aspects of heat recovery in exhaust steam latent and circulating water. Energy conservation is analyzed by the scheme of replacing the low pressure heaters condenser. The results showed the heat pump technology have the double effects on energy saving and environmental protection, and the higher working load, the more distinct effects of energy saving.