Rankine Cycle is the most fundamental and important power cycle in Engineering Thermodynamics. This paper conducted Rankine Cycle experiments with Rankine Cycle Lab-Equipment, and measured thermal efficiency, turbine relative internal efficiency, cycle friction loss and other parameters. Results showed that Rankine Cycle Lab-Equipment can simulate the basic thermal processes of Rankine Cycle, but with relatively low thermal efficiency and huge cycle friction loss. The main reasons for low thermal efficiency were huge friction loss of steam turbine and low main-steam parameters. Measures to improve Rankine Cycle Lab-Equipment were proposed according to experimental results and analysis. Laboratory Rankine Cycle combined Thermodynamic theory with experiment to help students understand and analyze the fundamental theory of Thermodynamics, improve their hands-on ability to conduct experiments and problem-solving capability. At the same time, independent and innovative experiments were integrated into experimental teaching, which stimulated students’ learning enthusiasm and basic scientific research ability, and provided reference for innovative experimental teaching.