In this study, exergy and exergoeconomic analyses of a heat pump tumbler dryer are carried out by using actual thermodynamic and cost data. The wet cotton fabric is used as the test drying material. The results show that the specific moisture extraction rate (SMER) and evaporation rate of dryer are equal to 1.08kg/kWh and 0.018kg/s, respectively. Also, the respective exergetic efficiencies of the heat pump and overall system are equal to 0.07 and 0.11. A parametric study is then conducted in order to investigate the system performance and costs of the components, depending on the operating temperature and mass flow rate of air.