In this research, a new approach was proposed to analyze water, energy, and environment in the north utility plant of Tehran Oil Refinery. Operating costs were defined as an economic objective function and five scenarios were examined, including the elimination of some equipment such as boilers and turbines. By removing equipment that operates at minimal capacity, increasing the efficiency of other equipment, and importing electricity, a 1-22% saving in operational costs can be achieved. Subsequently, the addition of the organic Rankine cycle to the existing equipment was proposed as a scenario aimed at reducing both economic costs and environmental impacts. The environmental objective function was presented based on life cycle assessment methods, and the multi-objective optimization of the refinery's steam network was performed using the -constraint method. The results showed that the minimum operating costs are equal to 35.09 M$/y, while the most environmental effects are observed at this point (24.68 MPt/y). On the other hand, the minimum value of the environmental objective function is equal to 20.68 MPt/y, while the operating costs of the unit reach their highest value, that is, 35.26 M$/y. The final selection, in terms of prioritizing the importance of each objective function, rests with the decision-makers based on the existing conditions. The scenario of adding the organic Rankine cycle with a payback period of 5 years, is a suitable solution for generating part of the power demand of the network with a lower operating cost and reducing environmental effects.