Electrolysis is the process of decomposition of the liquid, containing ions by passing electricity through it. This process is achieved by an electrolyzer. An alkaline water electrolyzer uses electrical energy to break the chemical bond between hydrogen and oxygen in an alkaline electrolytic medium. The performance of the electrolyzer depends upon various parameters like temperature, pressure, ohmic overpotential, activation overpotential, etc. In this study, various parameters that affect the performance of the electrolyzer are identified and integrated using fundamental thermodynamics and electrochemical equations. A mathematical model is created in MATLAB/SIMULINK to analyse the voltage vs current density plot of the electrolyzer. An attempt is made to optimize the performance of the electrolyzer through the variation of the parameters. It was observed that increasing the operating temperature and decreasing the operating pressure favours the electrolysis process. Also, 30 wt% of KOH solution as electrolyte exhibits the optimal cell voltage as compared to 20 and 40 wt% solutions.