The printed circuit heat exchanger (PCHE) is a promising waste heat recovery technology to improve energy efficiency. The current investigation presents the experimental results on the thermal performance of a novel PCHE for low-temperature waste heat recovery. The novel PCHE was manufactured using precision machining and diffusion bonding. The thermal performances, such as effectiveness and NTU values at different temperatures, are evaluated, and water is used as a working fluid. The experimental results indicate that the PCHE’s effectiveness is around 0.979 for an inlet flow temperature of 95 °C. The predominant factors affecting the thermal performance of the PCHE are the inlet flow temperature and the flow rate of the working fluid. In addition, a comparison of the experimental results and the literature shows that the effectiveness of the PCHE is better than the others, which have fewer layers of PCHE fins.