A systematic strategy for retrofit of the multi-period heat exchanger network (HEN) on the basis of the multi-objective optimization is developed. In this three-stage procedure, a simplified multi-objective optimization model of the multi-period HEN is first established and then solved to target the retrofit, aiming to minimizing the total annual cost and total annual CO2 emissions. The obtained Pareto front represents series of retrofit targets under different emission limitations, from which the most desirable one can be selected. The matching of the existing and the required heat exchangers is further implemented to finalize the retrofit, which will meet the practical retrofit requirements and matching restrictions. The application of the proposed procedure is illustrated through a case study of a HEN in a vacuum gas oil hydro-treating unit. (C) 2017 The Chemical Industry and Engineering Society of China, and Chemical Industry Press. All rights reserved.