Abstract A Multi-Approach Evaluation System (MA-ES) is established in this paper providing comprehensive evaluations on Organic Rankine Cycles (ORC) used for waste heat utilization. The MA-ES covers three main aspects of typical ORC performance: basic evaluations of energy distribution and system efficiency based on the 1st law of thermodynamics; evaluations of exergy distribution and exergy efficiency based on the 2nd law of thermodynamics; economic evaluations based on calculations of equipment capacity, investment and cost recovery. The MA-ES is reasonably organized aiming at providing a general method of ORC performance assessment, without restrictions to system configurations, operation modes, applications, working fluid types, equipment conditions, process parameters and so on. Two ORC cases of internal combustion engines’ (ICEs) waste-heat-recovery are exemplified to illustrate the applications of the evaluation system. The results clearly revealed the performance comparisons among ORC configurations and working fluids referred. The comparisons will provide credible guidance for ORC design, equipment selection and system construction.