A heat exchanger includes tubes arranged in one direction, and a corrugated fin provided between the tubes. The corrugated fin includes joints joined to the tubes, and fin bodies that connect the joints which are located next to each other along the wave shape. The fin body includes a cut-raised portion that has a shape in which a part of the fin body is cut and raised for promotion of heat transfer. The cut-raised portion includes a cut-raised end on at least one end of the cut-raised portion in the one direction. The cut-raised end has recesses and projections on its surface that increase hydrophilicity of the surface of the cut-raised end.