Abstarct: The steel industry stands as a prominent energy-intensive sector characterized by significant heat losses. In this research, a novel configuration of a poly-generation hybrid system, specifically tailored to explore the viable prospects of waste heat recovery within a steel manufacturing facility, is introduced. The proposed system comprises a steam Rankine cycle (SRC), a Kalina cycle, two organic Rankine cycles (ORC), and a proton exchange membrane (PEM) electrolyzer, collectively facilitating the recuperation of an impressive 262 MW of dissipated energy from the steel plant. A technical and economic assessment is conducted to evaluate the performance of the system. Also, due to the importance of exergy efficiency and the initial cost of the system, in this research, two single-objective optimizations have been performed in order to maximize the exergy efficiency and minimize the initial cost of the system by genetic algorithm. The proposed system demonstrates an energy efficiency of 25.76%, resulting in the concurrent production of power, heat, and hydrogen at rates of 48.39, 29.42 MW, and 8.12 tons/day, respectively. The system exhibits an exergy efficiency of 57.46%, with an exergy destruction magnitude of approximately 45 MW. It is revealed that the SRC cycle represents the primary contributor to the energy destruction portfolio of the proposed system, accounting for an impressive 67.83%. Furthermore, a comprehensive economic analysis has been conducted, revealing an initial capital cost of 36.6 MM$ for the implementation of this system. The revenue generated from the sale of electricity and hydrogen amounts to 3.6 and 3.8 MM$ per annum, respectively. baxsed on these financial considerations, the estimated return period for the investment is projected to be approximately 7 years. The results of the single-objective optimizations also showed that, in the optimization aimed at minimizing the initial cost of this multiple production system, the initial cost was reduced from 36.6 to 34.4 million dollars, in this case, energy and exergy efficiency, net output power, heat and The total exergy destruction of the system is 22.46%, 50.25%, 39.749 MW, 37672 kW and 52876 kW, respectively. Also, in the optimization aimed at maximizing exergy efficiency, the value of energy efficiency and exergy has increased to 27.4% and 61.32%, respectively, in this case, the amount of initial cost, net output power, heat and exergy destruction is 37.14 million dollars, 52.698 MW, 27089 kW and 40777 kW respectively.