Abstract: The cyclone heat exchanger according to the invention comprises a set of cyclones for preheating powdered raw material. The set of cyclones is divided into a high temperature part (1) and a low temperature part (2) mutually interconnected by a tube (4) with a return loop (40) which is located below the lever of lower cyclone (21) of low temperature part (2). The powdered raw material is transferred from the low temperature part (2) to the high temperature part (1) by means of a transport tube (50), fed with hot transporting gas. The high temperature part (1) and the low temperature part (2) are located in such a way, that the connection of the warm gas input (130) of the highest cyclone (13) of high temperature part (1) is located above the connection of warm gas input (210) of lower cyclone (21).