A heat exchange furnace includes a surrounding wall (31) disposed around a combustion furnace unit (2) so as to define an annular heat exchange space (30) therebetween. Upright buffer plates (36) divide the heat exchange space (30) into a plurality of air chambers (301) communicated with each other. Upper and lower gas-guiding members (5, 4) are connected respectively and fixedly to upper and lower ends of the surrounding wall (31). Conduit sets are disposed within the heat exchange space (30) , and cooperate with the upper and lower gas-guiding members (5, 4) so as to constitute cooperatively at least one serpentine gas flow path disposed within the heat exchange space (30).
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