thermodynamic cycle analysis has been performed for the power generation systems to utilize the cold energy of liquefied natural gas (LNG). The power cycle used the air or water at room temperature as a heat source and the LNG at cryogenic temperature as a heat sink. Among manypossible configurations of the cycle. the open Rankine cycle. and the closed Brayton cycle, and the closed Rankine cycle are selected for the basic analysis because of their practical importance. The power output per unit mass of LNG has been analytically calculated for various design parameters such as the pressure ratio. the mass flow rate. the adiabatic efficiency. the heat exchanger effectiveness. or the working fluid. The optimal conditions for the parameters are presented to maximize the power output and the design considerations are discussed. It is concluded that the open Rankine cycle is the most recormmendable both in thermodynamic efficency and in practice.