We discuss the merger process of binary black holes with Hawking radiation taken into account. Besides the redshifted radiation to infinity, binary black holes can exchange radiation between themselves, which is first redshifted and then blueshifted when it propagates from one hole to the other. The exchange rate should be large when the temperature-divergent horizons are penetrating each other to form a single horizon with unique temperature. This will cause nonnegligible mass and angular momentum transfer between the black holes during the merging process of the horizons. We further argue in the large mass ratio limit that the light hole whose local evaporation is enhanced by the competing redshift-blueshift effects will probably evaporate or decay completely before reaching the horizon of the heavy one. We also discuss the possibility of testing Hawking radiation and even exploring the information loss puzzle in gravitational wave observations.