The mechanical stress due to the wheel-rail contact and thermal stress due to the drag braking increase the incidence of wheel failure. So, firstly, stress analyses(mechanical, thermal and combined stress) of wheel plate are performed using 3-dimensional finite element method(FEM). Secondly, the optimum design of wheel plate ;s investigated in order to reduce weight of the wheel based on results of stress analysis. The optimum design is peformed using 2-dimensional axisymmetric F.E. model and its results are verified by 3-dimensional F. E. model.