The aim of the present paper is to use the second-law approach for the thermodynamic analysis of the reheat combined Brayton/Rankine power cycle. Expressions involving the variables for specific power-output, thermal efficiency, exergy destruction in components of the combined cycle, second-law efficiency of each process of the gas-turbine cycle, and second-law efficiency of the steam power cycle have been derived. The standard approximation for air with constant properties is used for simplicity. The effects of pressure ratio, cycle temperature-ratio, number of reheats and cycle pressure-drop on the combined cycle performance parameters have been investigated. It is found that the exergy destruction in the combustion chamber represents over 50% of the total exergy destruction in the overall cycle. The combined cycle efficiency and its power output were maximized at an intermediate pressure-ratio, and increased sharply up to two reheat-stages and more slowly thereafter. (C) 2003 Elsevier Ltd. All rights reserved.