Liquid　natural　gas　(LNG)　delivered　by　sea-ships　contains　considerable　cryogenic　energy　which　can　be　used　for　power　generation　before　its　evaporation　and　introduction　into　the　system　of　pipe　line.　Electric　power　generation　utilizing　LNG　cold　energy　is　a　major　research　direction.　There　are　two　kinds　of　LNG　cold　energy　utilization　in　electric　power　generation,　that　is,　independent　thermal　cycle　with　natural　gas　direct　expansion　and　close-loop　Rankin　cycle.　However,　the　efficiency　of　LNG　cold　energy　utilization　is　low.　Recently,　many　efforts　have　been　dedicated　to　improve　the　efficiency　of　LNG　cold　energy　utilization.　Different　optimizing　process　has　been　proposed　to　improve　the　utilization　of　LNG　cold　energy.　However,　the　optimizing　target　and　methods　needed　to　be　further　decided.　In　this　paper　a　new　methodology　combining　the　energy　level　analysis　and　the　pinch　analysis　is　determined.　A　so-called　T-Ω-H　diagram　is　introduced,　where　T　is　temperature,　Ω　states　the　energy　level　and　H　indicates　the　amount　of　energy.　The　proposed　method　can　promise　modifications　quickly　for　improving　a　base　cycle　design.　Utilizing　this　method　to　analysis　the　normal　Rankin　power　cycle　with　LNG　cold　energy　as　heat　sink,　the　results　show　that　the　thermodynamic　imperfection　in　heat　exchanger　is　the　main　position　for　improvement.　Based　on　which　two　cascading　power　cycle　with　LNG　cold　energy　recovery　is　proposed　and　the　analytical　results　show　that　the　longitudinal　cascading　cycle　has　the　high　performance　than　transverse　cascading　cycle.　The　simulating　results　showed　that　this　new　method　is　effective　for　improving　thermodynamic　cycle　of　power　generation.