A combined power generation system is proposed based on SOFC/GT and transcritical carbon dioxide cycle, which employs the transcritical carbon dioxide cycle to recover the waste heat from SOFC/GT. The proposed system performance is evaluated by mathematical models and thermodynamic laws. Results indicate that the SOFC, TRCC and overall system electrical efficiencies are 49.21%, 29.14% and 69.26% under the designed conditions, and the last increases with increase in compressor pressure ratio. The entrance pressures of expansion machine in TRCC also affect the performance of the combined power generation system. (C) 2016 Hydrogen Energy Publications LLC. Published by Elsevier Ltd. All rights reserved.