Thermodynamic performance of a simple Rankine cycle, regenerative Rankine cycle, and Kalina cycle for Ocean thermal Energy Conversion(OTEC) is evaluated under the same condition with various working fluids. The evaporator and condenser are modeled by a UA and LMTD method while the turbine and pump are modeled by considering isentropic efficiencies. As for the working fluids, R22, R134a, R32, propylene, ammonia are used for the Rankine cycles while ammonia/water and R32/R134a mixtures are used for Kalina cycle. Calculated results show that newly developed fluids such non-ozone depleting refrigerants as R134a and R32 perform as well as R22 and ammonia. The regenerative Rankine cycle showed a 1.2 to 2.8% increase in energy efficiency as compared to the simple Rankine cycle while the Kalina cycle with ammonia/water mixture showed a 1.8% increase in energy efficiency. The efficiency of the Kalina cycle with R32/R134a mixtures is the same as that of a simple Rankine cycle using R22. Therefore, the regenerative Rankine cycle turns out to be best choice for OTEC applications.