In view of recycle or treatment of swine manure, the physico-chemical characteristic including the thermal reaction curve by DSC were evaluated. After extrusion processing of swine manure, durability of the pellet and the degree of odor reduction by olfactory detection were also evaluated. Fresh swine manure solids contains more than half of 106㎛ or smaller particles, that could cause a difficulty in physical separation. Totally, 80.34% of solids were volatile solids. As the urea level is increased, the gelatinization temperature of the manure added feed mixture is decreased although the specific energy for gelatinization is increased. The level of fiber and ash did not affect the thermal modification pattern. A durability of extruded and pelleted swine manure-incorporated feed depend primarily upon processing moisture content then secondarily upon both processing temperature and addition level of swine manure. Olfactory odor intensity of swine manure decreased with extrusion of the swine manure although the post processing emission intensity of NH3, SO2, and H2S were not changed due to the processing.