The introduction of new equipments to strengthen the competitiveness of enterprises is one of pretty important factors. Enterprises introducing new equipments strengthen competitiveness through productivity increasing, high quality maintenance, inventory reduction, improved design and production interface, simple scheduling process, low scrap rate, rework reduction, etc. Managers will work out the best equipment-replacing strategy through the appropriate combination of potential cost attributes and qualitative attributes difficult to quantify in accordance with the business purpose. This study is to present a method to select an equipment-replacing alternative through the decision-making model of Analytic Hierarchy Process in consideration of the differences of cost flow of the alternatives, taking into consideration tangible attributes and strategic intangible attributes.