Dealing with explosive wastes appropriately is a difficult problem recently. Many of them are just being buried and some of them are being treated. The main method to treat explosive wastes is to burn it with Rotary-kiln reactor. However this has a risk of explosion during the process because it is based on explosion mechanism. In addition, Rotary-kiln method can not deal with enough amount of explosive waste because Rotary-kiln method use batch reactor. Lastly, because of the limit of non-successive process, the efficiency of the purification process is low which results in an incomplete combustion. This incomplete combustion makes the exhaust gas more dirty which contains more harmful substances. To overcome the limits of Rotary-kiln method which are introduced above, development of combustion-based process is necessary. Therefore, a flow diagram which includes fluidized bed reactor was developed with Aspen Plus. A mixture of explosive waste slurry and water with the same ratio was fed in the fluidized bed reactor. Also, additional units were chosen and designed which clean exhaust gas to make the reactor more adaptable. The proposed process was thermodynamically analyzed and the efficiency evaluation was held. Also, the improvement possibility of the process was derived. The final exhaust gas from this process satisfied the environment regulation of Korea. This process can deal with 3000 ton/yr which is the total amount of waste propellant in Korea, while the exhaust gas fits the regulation of CO 25ppm/hr, NO2 0.10ppm/hr. This study is expected to contribute to the improvement of the efficiency of the explosive waste treatment process and the possession of domestic technology in Korea.