This study systematically assessed and compared four ash recycling possibilities, namely forest fertilization, landfill construction, road construction, and road stabilization through the use of cost-benefit analysis and life cycle assessment methods. The results indicated that forest fertilization with ash was the most economically attractive method with a 60% increase in the net present value compared to ash landfilling, while reducing the environmental impact by 0.3%. On the contrary, road construction with ash resulted in a 13% reduction in the environmental impact and an increase in net present value of 25%. Landfill construction with ash was overall the least attractive proposition.