Water cooled panels are used at the upper side of the electric arc furnace. They cause preventing the damage of the furnace shell. Thermal analysis of Water cooled panels is so much important from aspects of emergency maintenance and thermal energy losses. In this research work, for analyzing of radiation and thermal-fluid, a Finite element code (ANSYS) and a finite volume code (FLUENT) was employed respectively. To understand the importance of EBT-Panel in an EAF, a thermal-fluid model was developed to quantify temperature distribution of the slag coating surface and mean heat flux on EBT-panel. In this model the radiation heat transfer was taken into account and all view factors were calculated. It was assumed that radiation intensity from the arc on EBT-Panels surface could be neglected (by calculating the view factors). The main areas for radiation to EBT-Panels are top molten slag layer and graphite electrodes (closed to EBT-Panels). The best way to decrease the net heat flux on each surface is increasing the slag cover thickness. This can happen by foamy slag practice (because the melting point of foamy slag is more than the present slag composition). The effects of various parameters such as water flow rate and slag cover thickness were examined by the model. The net heat flux on each surface (from ANSYS) was considered as a input data of fluent software. Outlet water temperature and distribution of temperature on internal and external surface of the EBT and side wall panels was calculated by the model. It was found that if water flow rate would be less than 7.5 m 3 /h, heat transfer rate on the internal surface of the panel decreased. It cause cracks and water leakage on the surface of steel panels.