In this study, effects of the different types of heat exchanger surfaces on the second law efficiency of a small-scale circulating fluidized bed (CFB) combustor are analyzed and the results are compared with the bubbling fluidized bed coal combustor effectiveness values. Using a previously developed simulation program, combustor efficiency and entropy generation values are obtained at different operation velocities at different height and volume ratios of the immersed surfaces, both for circulating and bubbling fluidized bed combustors. Besides that, the influence of the immersed surface types on the combustor efficiency was compared for different fluidized bed combustors. Through this analysis, the dimensions, arrangement and type of the immersed surfaces which achieve maximum efficiency are obtained.