This paper describes an energy recovery system that recovers waste thermal energy from a fuel cell stack and uses it for fuel reforming purposes. The energy recovery system includes a throttling valve, a heat exchanger, and a compressor, and is coupled with a coolant loop of the fuel cell stack. The feed stock of a fuel reformer, which is primarily a mixture of water and fuel, is vaporized in the heat exchanger and is compressed to a sufficiently high pressure before it is ducted into the fuel reformer. The performance of a fuel cell power plant equipped with the energy recovery system is evaluated. The results indicate that the power plant efficiency can be increased by more than 40% compared to that of a fuel cell power plant without the energy recovery system. Additionally, up to 90% of the waste heat generated in the fuel cell stack is recovered. As a result, the required heat dissipation capacity of the radiator that is used for cooling the fuel cell stack can be drastically reduced.