Liquids working in heat engines require especially effective thermal regeneration as they flow between the remote and ambient temperature regions of a machine. Using liquid Freon 114 (C2Cl2F4) as a test fluid, we have studied this process experimentally in a parallel‐plate geometry for the pulsating unidirectional flow of a Malone engine. A theoretical analysis of the thermohydrodynamical process is presented whose results compare favorably with experiment. For a constant average volume rate of flow of liquid, the regenerative loss decreases as the period of the engine decreases.