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This paper presents a model system TEG-DORC that employs thermoelectric generator (TEG) as a topping cycle integrated with a dual-loop organic Rankine bottoming cycle (DORC) to recover exhaust heat of internal combustion engine (ICE). The thermodynamic performance of TEG-DORC system is analyzed based on the first and second law of thermodynamics when system net output power Wnet, thermal efficiency ηth, exergy efficiency ηe and volumetric expansion ratio are chosen as objective functions. The model has many parameters that affect combined system performance such as TEG scale, evaporation pressure of high temperature ORC loop (HT loop) Pevp,HT, condensation temperature of HT loop Tcond,HT. It is suggested that HT loop has a vital influence on system performance.