Free cooling system is used to reduce energy consumption of cooling system. Free cooling system is consisted of cooling group and dry-cooler in which heat exchange of chilled water and out air is conducted. Although this system has an excellent energy saving effect in place having cooling load regularly, data or material of design for free cooling system is lacked. In this study, characteristics analysis of free cooling system is conducted through software HYSYS with changing some facts. The main result is following as : Dry-cooler capacity is influenced by out air temperature, required chilled water temperature and LMTD(Logarithmic Mean Temperature Difference) of heat exchanger. As out air temperature is more low, dry-cooler capacity become increased. in addition, as required chilled water temperature is more high and LMTD is more low, the out air temperature range is widened for using dry-cooler. If out air temperature is below 0℃, antifreeze need to be used because freeze and burst can be occurred. In case of South Korea, antifreeze of 34% of ethylene glycol concentration is proper. When compressor load of R22, R134a and R407C is compared, considering environmental regulation and energy consumption, R134a is best working fluid.