This study presents the conceptual design of the recycle pressurized water reactor (RPWR), which is an innovative PWR fueled with mixed oxide, moderated by heavy water, and having breeding ratios around 1.1. Most of the systems of RPWR can employ those of PWRs. The RPWR has no boric acid systems and has a small tritium removal system. The construction and operation costs would be similar to those of current PWRs. Heavy water cost has decreased drastically with up-to-date producing methods. The reliability of the systems of the RPWR is high, and the research and development cost for RPWR is very low because the core design is fundamentally based on the current PWR technology.