Abstract: The present invention provides a rotary rock bit with a heat pipe for conducting heat from the bit's bearings. The rotary rock bit includes a bit body with a connection for connecting the bit body to a rotary drill string. At least one arm extends from the bit body and a rotatable cutter is mounted on said arm. Bearing means are located between the rotatable cutter and the arm for promoting rotation of the cutter. A heat pipe is positioned in the bit body and the heat pipe extends into the arm. The heat pipe includes an evaporator section located near the bearings and a condenser section located near the external surface of the bit.