Abstract: An exhaust treatment system associated with a power source is disclosed. The exhaust treatment system may have a filter located to remove particulate matter from a flow of exhaust, and a regeneration device located proximal the filter. The exhaust treatment system may also have a first fluid handling component located upstream of the power source to vary an amount of oxygen in the flow of exhaust, a second fluid handling component located downstream of the power source to vary the amount of exhaust air flow in the exhaust circuit, and a controller in communication with the regeneration device and the fluid handling component. The controller may determine a need for filter regeneration, and determine adjustments to the first and second fluid handling components required to provide sufficient oxygen and air mass flow in the exhaust for filter regeneration.