Exergy analysis of a bakery stove, carried out with the use of exergy balance of this object was presented in the paper. With the use of balance data, assessment of internal and external exergy losses during baking process in the four-chamber cyclometric stove, used for baking a wide assortment of bakery products, was carried out. The obtained calculation results showed that the internal exergy loss constitutes 41.04% of exergy supplied to the system and the external – 58.89%. Those values are the measure of the quality of energy, which may be recovered and used for heating purposes or may be subjected to conversion into other forms of energy. It concerns, as a rule, the loss of external exergy because the internal one was dispersed.