Energy demand is increasing exponentially in the last decade. To meet such demand there is an urgent need to enhance the power generation capacity of the electrical power generation system worldwide. A combined-cycle gas turbines power plant is an alternative to replace the existing steam/gas electric power plants. The present study is an attempt to investigate the effect of different parameters to optimize the performance of the combined cycle power plant. The input physical parameters such as pressure ratio, air fuel ratio and a fraction of combustible product to heat recovery heat exchanger via gas turbine were varied to determine the work output, thermal efficiency, and exergy destruction. The result of the present study shows that for maximum work output, thermal efficiency as well as total exergy destruction, extraction of combustible gases from the passage of the combustion chamber and gas turbine for heat recovery steam generator is not favorable. Work output and thermal efficiency increase with an increase in pressure ratio and decrease in air fuel ratio but for minimum total exergy destruction, the pressure ratio should be minimum and air fuel ratio should be maximum.