In the last decade, particular attention has been paid to the organic Rankine cycle (ORC) power plant, a technology that implements a classical steam Rankine cycle using low-boiling fluid of organic origin. Depending on the specific application and the choice of the designer, the ORC can be optimized using one or several criteria. The selected objectives reflect various system performance aspects, such as: thermodynamic, economic, environmental or other. In this study, a novel criterion called exergy utilization index (XUI) is defined and used to maximize the utilization of an energy source in the ORC system. The maximization of the proposed indicator is equivalent to bring the heat carrier outlet temperature to the ambient temperature as close as possible. In the studied case, the XUI is applied along with the total heat transfer area of the system, and the multi-objective optimization is performed in order to determine the optimal operating conditions of the ORC. Moreover, to reveal a relationship between the XUI and important ORC performance indicators, a parametric study is conducted. Based on the results, it has been found that high values of the XUI (~80%) correspond to optimal values of exergy-based indicators such as: exergy efficiency, waste exergy ratio, environmental effect factor or exergetic sustainability index. Furthermore, the values of the XUI = 60%−80% are associated with beneficial economic characteristics reflected in a low payback period (<11.3 years). When considering the ecological aspect, the maximization of XUI has resulted in minimization of exergy waste to the environment. In general, the simple formulation and straightforward meaning make the XUI a particularly useful indicator for the preliminary evaluation and design of the ORC. Furthermore, the comparative analysis with respect to other well-known performance indicators has shown that it has a potential to be successfully applied as the objective function in the optimization of ORC power plants.