In this paper, we conduct energy and exergy analyses of the magnesium-chlorine (Mg-Cl) thermochemical cycle for hydrogen production and examine the respective cycle energy and exergy efficiencies. We also undertake a parametric study to investigate how the overall cycle performance is affected by changing the reference environment temperature and operating conditions. The results show that Mg-Cl cycle offers a good potential due to its high energy and exergy efficiencies as 63.63% and 34.86%, respectively, based upon the conditions and parameters considered. In this regard, Mg-Cl cycle appears to be a promising low temperature thermochemical cycle. It may, therefore, compete with other low temperature thermochemical and hybrid cycles such as the copper-chlorine cycle. Copyright (C) 2011, Hydrogen Energy Publications, LLC. Published by Elsevier Ltd. All rights reserved.