This paper deals with an experimental study of propulsion force characteristics of traveling-wave motion of a flexible plate modeled on the flexible caudal fin of fish. The flexible plate is set at the trailing edge of an oscillating wing which are heaving and pitching around the leading edge of the oscillating wing, and the traveling-wave motion of the flexible plate is excited by the combination motion of the heaving and pitching motion of the wing. In the experiment, the propulsion force and side force in stationary water is examined. As the result of the experiment, the effect of the traveling -wave motion of the flexible plate on the propulsion force characteristics is clarified with changing the length and thickness of the flexible plate, and the motion pattern of the oscillating wing.