In this letter, we analyze the amplify-and-forward (AF) two-way cooperative relaying scheme with regard to the average data transmission rate and the symbol error probability. By investigating the Moment-Generating function (MGF) and the k-th moment of “extra-harmonic” mean of two variables, we derive an exact closed-form expression for the symbol error probability (SEP) and the approximate average sum rate. Analysis results show that the proposed scheme achieves higher SEP performance as well as a lower data rate than the conventional AF two-way scheme. Additionally, it also matches the SEP performance of the one-way AF cooperative scheme but attains higher sum rate. Finally, Monte Carlo simulation results will be shown to confirm our analytical results.