Growing trend of integrating renewable energy resources in conventional Distribution Networks and their intermittent output increase the need for Energy Storage Systems. In this chapter, a closed form equation is proposed for optimal management of multi Energy Storage System in a conventional Distribution Network, analytically. Using the proposed approach, Energy Storage System can be embedded and utilized optimally in today’s Distribution Network using the existing facilities. In order to find optimal performance of the storage system, the objective function is solved analytically and a closed form equation is achieved for storage system performance. The Energy Storage System management is performed in order to minimize total cost of daily energy loss and energy supply of the system. In addition, technical assessment of Energy Storage System is also taken into account to obtain a situation in which utilization of Energy Storage System is economical. In the Optimization problem, energy price, storage utilization duration, amount of load demand, power loss of the system, costs, limits and characteristics of storage system are integrated in the objective function. The proposed approach is applied to two test systems with different load levels. Obtained results indicate that the proposed approach can be successfully applied to practical networks and enhance efficiency of the distribution systems.