Entropy generation analysis for the Cu–water nanofluid flow through a heat exchanger tube equipped with perforated conical rings is numerically investigated. Frictional and thermal entropy generation rates are defined as functions of velocity and temperature gradients. Governing equations are solved by using finite volume method, and Reynolds number is in the range of 5000–15,000. The effects of geometrical and physical parameters such as Reynolds number, number of holes and nanoparticles volume fraction on the thermal and viscous entropy generation rates and Bejan number are investigated. The results indicate that the thermal irreversibility is dominant in most part of the tube. But it decreases with increasing the nanoparticle volume fraction. Frictional entropy generation reduces with increasing the number of holes from 4 to 10. This is because of stronger velocity gradient near the perforated holes. Bejan number decreases with augment of Reynolds number.