Cycles of gas turbine devices using liquid and gas fuels with chemical heat regeneration are considered. A thermodynamic analysis of one of these schemes was carried out using energy and enthalpy balances. The behaviour of the cycle was investigated as a function of the pressure in the chemical regenerator (Pch) and in the turbine (PT), and the temperature in the chemical catalytic regenerator (Tch). Calculations were carried out at PT ⩽ 10.0 MPa, Pch ⩽ 2.0 MPa and Tch ⩽ 600 K. As a result, it was shown that the thermal efficiency ηT of the cycle with chemical regeneration of the exhaust gases increased by about 12%. The dependences of ηT on Pch and Tch were obtained.