Multi-objective optimization for designing of a benchmark cogeneration system known as CGAM cogeneration system has been performed. In optimization approach, the exergetic, economic and environmental aspects have been considered, simultaneously. The thermodynamic modeling has been implemented comprehensively while economic analysis conducted in accordance with the total revenue requirement (TRR) method. The results for the single objective thermoeconomic optimization have been compared with the previous studies in optimization of CGAM problem. In multi-objective optimization of the CGAM problem, the three objective functions including the exergetic efficiency, total levelized cost rate of the system product and the cost rate of environmental impact have been considered. The environmental impact objective function has been defined and expressed in cost terms. This objective has been integrated with the thermoeconomic objective to form a new unique objective function known as a thermoenvironomic objective function. The thermoenvironomic objective has been minimized while the exergetic objective has been maximized. One of the most suitable optimization techniques developed using a particular class of search algorithms known as multi-objective evolutionary algorithms (MOEAs) has been considered here. This approach which is developed based on the genetic algorithm has been applied to find the set of Pareto optimal solutions with respect to the aforementioned objective functions. An example of decision-making has been presented and a final optimal solution has been introduced. The sensitivity of the solutions to the interest rate and the fuel cost has been studied. (C) 2008 Elsevier Ltd. All rights reserved.