Increasing energy needs and reducing greenhouse gas emissions require immediate studies on carbon-free energy solutions, namely hydrogen. There are numerous methods among the production methods of hydrogen in a green manner. Hydrogen, which is then primarily obtained as a result of the separation of water with thermochemical cycles, is an environmentally friendly and sustainable hydrogen production method. In this study, the Cobalt-Chlorine (Co-Cl) cycle, which is one of the new thermochemical cycles, is exam-ined in detail in terms of thermodynamics. There are four reactions in the Co-Cl ther-mochemical cycle. These are listed as the hydrolysis reaction in which hydrogen is obtained, the thermolysis reaction in which oxygen is obtained, the reduction reaction and finally the hydrochlorination reaction. According to the results of the analysis performed kinetically with the Aspen Plus software, the exergy efficiency of the cycle is calculated as 33%. When the exergy destruction of all reactions is compared, it is seen that the greatest exergy destruction occurs in the hydrolysis reaction, and the lowest exergy destruction occurs in the hydrochlorination reaction. The fact that the exergy efficiency is high when evaluated in terms of kinetics shows that the cycle is feasible in terms of thermodynamics.