In the essay, a waste-to-energy system architecture consisting of plasma gasification, waste tire pyrolysis, gas turbine cycle, HRSG, and steam turbine cycle is proposed. In the hybrid configuration, the syngas from the conversion of medical waste in the plasma gasifier enters the combustion chamber for further utilization. Meanwhile, waste tires are subjected to pyrolysis reaction in the reactor, which produces pyrolysis carbon and pyrolysis oil that are valuable in the chemical industry, machinery, and energy, and selling them can bring significant economic benefits. The generated pyrolysis gas is conveyed to the combustion chamber, serving as the primary fuel source for the combustion process. The flue gas from combustion enters the gas-steam combined cycle and drives generators to produce electricity. An analysis of the thermodynamics and techno-economics of this hybrid configuration is conducted, leveraging simulation outcomes as a foundation. The thermodynamic assessment reveals an energy efficiency of 66.68 % and an exergy efficiency of 74.40 %, indicating substantial performance. The techno-economic evaluation underscores the viability of the scheme, with a swift dynamic payback period of 3.35 years and a positive net present value of 179295.12 k$. Collectively, these findings underscore the favorable nature of this novel design, both thermodynamically and economically.