The exergy analysis of deaerator at three different steam power plant loads is performed in this paper. Also, the influence of the ambient temperature change on deaerator exergy efficiency and losses is analyzed. From the exergy viewpoint, deaerator operation shows the best characteristics at middle and high power plant loads. The lowest deaerator exergy destruction of 363.94 kW and the highest exergy efficiency of 93.27 % will be obtained at middle power plant load and at the ambient temperature of 5 °C. The highest deaerator exergy destruction of 1349.99 kW and the lowest exergy efficiency of 81.83 % will be obtained at low power plant load and at the ambient temperature of 45 °C. Deaerator operation is preferable at the lowest possible ambient temperature, regardless of the current power plant load.