The purpose of this study was to investigate the effect of multiple mechanical forces in gas exchange and hemolysis in an intravascular lung assist device (IVLAD). Specific focus was given to the effect of membrane vibration. We designed the oscillatory type artificial lung assist device attached with a polyvinylidene fluoride sensor and a lead zirconate titanate (PZT) actuator (vibrator). Maximum oxygen transfer occurred at a frequency of 7 Hz for bovine blood and 35 Hz for distilled water. The normalized index of hemolysis oxygenator values for the circuit was 0.0014 g/mL for excitation of the PZT actuator with a sinusoidal 10-V wave and 0.0018 g/mL for a 50-V wave. The experiment results indicate effective performance in enhancing the gas transfer of the IVLAD. This novel hollow membrane filter IVLAD design demonstrates an acceptable level of gas exchange performance with an acceptable level of blood compatibility, and so it has potential as an implantable lung assist device for patients with acute respiratory distress syndrome.