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Small nuclear reactor features higher power capacity, longer operation life than conventional power sources. It could be an ideal alternative of existing power source applied for special equipment for terrestrial or underwater missions. In this paper, a 25kWe heat pipe cooled reactor power source applied for multiple use is preliminary designed. Based on the design, a thermal-hydraulic analysis code for heat pipe cooled reactor is developed to analyze steady and transient performance of the designed nuclear reactor. For reactor design, UN fuel with 65% enrichment and potassium heat pipes are adopted in the reactor core. Tungsten and LiH are adopted as radiation shield on both sides of the reactor core. The reactor is controlled by 6 control drums with B4C neutron absorbers. Thermoelectric generator (TEG) converts fission heat into electricity. Cooling water removes waste heat out of the reactor. The thermal-hydraulic characteristics of heat pipes are simulated using thermal resistance network method. Thermal parameters of steady and transient conditions, such as the temperature distribution of every key components are obtained. Then the postulated reactor accidents for heat pipe cooled reactor, including power variation, single heat pipe failure and cooling channel blockage, are analyzed and evaluated. Results show that all the designed parameters satisfy the safety requirements. This work could provide reference to the design and application of the heat pipe cooled nuclear power source.