In this paper, we present a steady-state experiment, energy balance and exergy analysis of exhaust gas in order to improve the recovery of the waste heat of an internal combustion engine (ICE). Considering the different characteristics of the waste heat of exhaust gas, cooling water, and lubricant, a combined thermodynamic cycle for waste heat recovery of ICE is proposed. This combined thermodynamic cycle consists of two cycles: the organic Rankine cycle (ORC), for recovering the waste heat of lubricant and high-temperature exhaust gas, and the Kalina cycle, for recovering the waste heat of low-temperature cooling water. Based on Peng-Robinson (PR) equation of state (EOS), the thermodynamic parameters in the high-temperature ORC were calculated and determined via an in-house computer program. Suitable working fluids used in high-temperature ORC are proposed and the performance of this combined thermodynamic cycle is analyzed. Compared with the traditional cycle configuration, more waste heat can be recovered by the combined cycle introduced in this paper. (C) 2011 Elsevier Ltd. All rights reserved.