A multi-objective optimization methodology for hazardous liquid waste management is presented in this paper using industrially based LCA models and operating constraints. This approach is used to optimize the handling of waste streams introducing flexible mixing policy scenarios compared to the rigid policy scenarios of the industrial system. It is shown that increasing the degrees of freedom for the waste mixing reduces significantly both the operating cost and the environmental impact by avoiding the use of utilities. Moreover, the influence of waste availability as function of production planning without waste storage is analyzed in several multiperiod optimizations. There, it is demonstrated that this saving potential can be further increased by integration of multiperiod production planning with waste management policies, up to the level of 40% for the environmental impact, and more than 50% for the operating cost, compared to the industrial base case. In some specific cases, a proper matching of production planning and waste mixing policies can also turn the waste treatment into a source of profit exploiting energy production from the incineration process.Implications: This study reveals the savings potential of more flexible policies in waste management, in particular waste mixing of liquid waste in batch chemical industries treated in incineration, wet air oxidation, wastewater treatment plants, or recovered by distillation. Through a multi-objective optimization framework including models for operating costs and life-cycle inventories based on industrial data, operating constraints from industrial practice, and terminal constraints from legislation, savings potentials up to 50% for the operation cost and 40% for the environmental impact are demonstrated in two case studies.