In this paper waste heat driven triple effect refrigeration cycle is analyzed from the viewpoint of both energy and exergy concept of thermodynamics. In this cycle ejector organic Rankine cycle, absorption refrigeration cycle and cascade vapour compression refrigeration cycles are integrated in order to obtain a range of temperature for varied simultaneous use. Exergy analysis determines the destruction and losses of exergy in various components and hence in overall system. Exergy efficiencies provide measure of approach to ideality while exergy destruction and losses provide measure of the deviation from ideality. Energy efficiency is found to be around 21.79% while exergy efficiency is 12.91%. The maximum thermodynamic irreversibility occurs in heat recover vapour generator followed by ejector and condenser of combined ejector organic Rankine refrigeration cycle.