A special non-TEMA type tubular recuperative heat exchanger used as a regenerator of a gas turbine cycle is considered for multi-criteria optimization. It is assumed that the recuperator is designed for an existing gas turbine cycle to be retrofitted. Three scenarios for optimization of the proposed system have been considered. In one scenario, the objective is minimizing the cost of recuperator; while in another scenario maximizing the cycle exergetic efficiency is considered. In third scenario, both objectives are optimized simultaneously in a multi-objective optimization approach. Geometric specification of the recuperator including tubes length, tubes outside/inside diameters, tube pitch in the tube bundle, inside shell diameter, outer and inner tube limits of the tube bundle and the total number of disc and doughnut baffles are considered as decision variables. Combination of these objectives and decision variables with suitable engineering and physical constraints (including NOx and CO emission limitations) makes a set of MlNLP optimization problem. Optimization programming in MATLAB is performed using one of the most powerful and robust multi-objective optimization algorithms namely NSGA-II. This approach which is based on the Genetic Algorithm is applied to find a set of Pareto optimal solutions. Pareto optimal frontier is obtained and a final optimal solution is selected in a decision-making process. It is shown that the multi-objective optimization scenario can be considered as a generalized optimization approach in which balances between economical viewpoints of both heat exchanger manufacturer and end user of recuperator. (C) 2009 Elsevier Ltd. All rights reserved.