Analytical solutions for the forced convection heat transfer of viscoelastic fluids obeying the Giesekus model are obtained in a concentric annulus under laminar flow for both thermal and hydrodynamic fully developed conditions. Boundary conditions are assumed to be (a) constant fluxes at the walls and (b) constant temperature at the walls. Temperature profiles and Nusselt numbers are derived from dimensionless energy equation. Subsequently, effects of elasticity, mobility parameter and viscous dissipation are discussed. Results show that by increasing elasticity, Nusselt number increases. However, this trend is reversed for constant wall temperature when viscous dissipation is weak. By increasing viscous dissipation, the Nusselt number decreases for the constant flux and increases for the constant wall temperature. For the wall cooling case, when the viscous dissipation exceeds a critical value, the generated heat overcomes the heat which is removed at the walls, and fluid heats up longitudinally.