This paper introduces an optimization method for improving thermoelectric heat pump performance by operating condition management of the thermoelectric modules (TEMs) and design optimization of the heat exchangers linked to the TEMs. The device studied, corresponding to an original configuration of the thermoelectric heat pump, comprises two commercial thermoelectric modules and two mini-channel heat sinks through which water flows, in contact with both sides of the TEMs. The objective function is the maximization of the device's coefficient of performance (COP), including the electrical and mechanical consumption of the thermoelectric modules and the circulating auxiliaries. First, the optimization variables are the number and the diameter of mini-channels, and the mass flows for both heat sinks (hot and cold sides). The results show that similar results are obtained by minimization of the entropy generation in the device. Finally, the hot thermal power demand is included in the optimization variables for complete optimization of the device. The results of full optimization converge with those obtained with the previous partial optimization, (C) 2012 Elsevier Ltd. All rights reserved.