Numerous mixed refrigerant cycles (MRCs) were developed in the past several decades in different applications. In this paper, two sets of low temperature MRCs are developed and simulated for a typical olefin plant utilizing a mixture of methane, ethane, propane and nitrogen as cycle working fluid to replace the pure ethylene refrigeration cycle that is used in conjunction with propylene refrigeration cycle in conventional plants. The key parameters of the cycles including mixture compositions and operating pressure levels are optimized to meet the objective of minimum shaftwork in compressor. The results show that different cycle configuration has different optimal mixture composition and low and high operating pressures. The results of exergy analysis reveal that the main location of the exergy loss in the cycles is the heat exchanger system. Also, the Carnot factor versus heat flow diagram is provided to identify the distribution of inefficiencies in the heat exchangers for each cycle. The simulation results show that MRCs can improve the thermodynamic performance of refrigeration system using the optimal working fluid mixture composition, optimal high and low operating pressures and optimal arrangement of the cycle components. Copyright (C) 2008 John Wiley & Sons, Ltd.