This work presents a systematic method for analysis and optimization of specific energy production (SEP) of pressure retarded osmosis (PRO) systems employing single-stage configuration as well as multistage design with interstage hydro-turbines. It is shown that the SEP normalized by the draw solution feed osmotic pressure increases with the number of stages as well as a dimensionless parameter c tot 5A tot L p p 0 =Q 0 . As compared to the single-stage PRO, the multistage arrangement not only increases flux and volume gain, but also allows a stage-dependent, progressively decreasing hydraulic pressure, both of which contribute to enhanced SEP and power density. At the thermodynamic limit where c tot goes to infinity, the theoretical maximum SEP by an N-stage PRO system is Nð12q
21=N totÞp 0 , where q tot is the ratio of the draw solution flow rate at the outlet to the inlet on the system level. For single-stage PRO, it is no more than p 0 . For infinite number of stages, the theoretical limit becomes ðln q tot Þp 0 . SEP under realistic conditions and practical constraints on multistage design are discussed.