Industrial　steam　is　widely　recognized　as　a　valuable　form　of　heat　currency,　possessing　considerable　social　and　economic　significance.　As　the　industry　shifts　to　low　carbon　emissions,　there　is　an　urgent　need　to　reduce　CO2　emissions　from　industrial　steam　generation.　The　analysis　of　a　high-temperature　heat　pump　steam　system　(HTHPSS),　which　recovers　industrial　waste　heat　to　produce　high-temperature　steam　at　170　degrees　C,　includes　evaluations　of　its　energy,　exergy,　economic,　and　environmental　(4E)　to　determine　whether　it　can　replace　a　coal-fired　boiler.　The　economic　analysis　considered　the　recovery　value　of　waste　heat　and　the　effect　of　CO2　trading　prices.　Optimization　calculations　were　performed　to　investigate　changes　in　the　waste　heat　temperature　and　condenser　outlet　temperature.　The　study　also　offers　recommendations　for　operational　conditions　and　optimization　strategies　for　the　HTHPSS.　The　results　indicate　a　positive　correlation　between　the　system　coefficient　of　performance　(COP)　and　the　waste　heat　utilization　rate　with　waste　heat　temperature　and　condenser　outlet　temperature.　The　maximum　COP　value　is　2.73.　The　total　exergy　efficiency　initially　increases　and　then　decreases　as　waste　heat　temperature　increases.　It　also　decreases　as　the　condenser　outlet　temperature　increases,　reaching　a　peak　value　of　43.26　%.　The　waste　heat　temperature　needs　to　be　at　least　59　degrees　C　to　generate　a　net　profit,　with　a　corresponding　payback　period　(PBP)　of　4.40　years.　The　minimum　PBP　is　0.03　years,　independent　of　waste　heat　temperature.　The　annual　emission　reduction　increases　as　waste　heat　temperature　increases　and　decreases　as　condenser　outlet　temperature　increases.　These　results　indicate　that　a　HTHPSS　could　replace　a　coal-fired　boiler　and　offer　guidance　for　design　optimization.