In the present study, the white reduction system was designed and manufactured to evaluate the performance of a heat exchange system using a wave heat exchanger. The reducing effect of white smoke and the amount of heat recovered from cooling water were investigated experimentally using the cooling and dehumidifying method. The white smoke reduction system consists of two parts; the generating part and the reducing part of white smoke. Experimental conditions on EA(exhaust air) and SW(supply water) were fixed. And the outlet temperature and absolute humidity of EA were measured according to inlet velocity of SA(supply air). The outlet temperatures and absolute humidities of EA gradually decreased as inlet velocities of SA increased. From the experimental results, we can see that the absolute humidity reduction rate of EA was max. 84%, and the heat recovery rate of SW was max. 42%.