An active intercooler for heating or cooling a fluid passing through the intercooler. The intercooler may be used to cool gases from the compression stage of an engine turbocharger in order to increase engine horsepower. The intercooler could also be used to cool the oil in an engine or transmission. Alternately, the intercooler could be used to heat or cool the air provided to the passenger compartment of a vehicle. The active intercooler includes a chamber through which the fluid flows. A thermoelectric heat pump is attached to the chamber in order to remove and dissipate heat from the fluid flowing through the chamber. A control system is provided to control the current supplied to the thermoelectric heat pump and thus the cooling capacity of the thermoelectric heat pump. A heat sink including a plurality of fins is attached to the thermoelectric heat pump on a surface opposite the chamber in order to increase the ability of the thermoelectric heat pump to dissipate heat.