In the momentum of reducing the CO2 emission of coal to ethylene glycol (CtEG) process, a novel carbon dioxide utilized coal to ethylene glycol (CUCtEG) process is proposed, simulated, and optimized to find the optimal way for simultaneous reduction and utilization of CO2 emissions of conventional coal to ethylene glycol process. The novel process is integrated with coke oven gas and dry/steam-mixed methane reforming technologies to enhance resource and energy efficiencies as well as reduce CO2 emission. On the basis of the rigorous steady-state simulation of the process, the key operational parameters of the proposed process are investigated and optimized. A detailed technoeconomic analysis is conducted to manifest the advantages of the proposed process by comparison with a conventional process. The results show that the optimal feed ratio of coke oven gas to coal is 0.68, and the split ratio of CH4 for steam methane reforming reaction is suggested to be 0.74. Compared with the conventional coal to ethylene glycol process, the direct CO2 emission of the proposed process is significantly reduced by 94.05%, and the carbon utilization efficiency and exergy efficiency are greatly increased by 36.4% and 15.17%. Moreover, the proposed process has a better economic performance and stronger competitiveness since it can save the production cost by 9.72% and improve the internal rate of return by 6.92%. Thus, the proposed process provides a promising way to efficient utilization of CO2 and improve the technoeconomic performance of coal to ethylene glycol industry.