The overall cost of a hydropower plant is mainly due to the expenses for civil works, mechanical equipment (turbine and control units) and electrical components. The goal of a new draft tube design is to obtain a geometry that reduces investment costs, especially the excavation ones, but the primary driver is to increase the overall machine efficiency allowing for reduced payback time. In the present study, an optimization study of the elbow-draft tube assembly of a Kaplan turbine was conducted. A CFD model for the complete turbine has been developed and validated; next, an optimization of the draft tube alone was performed using a Design of Experiments technique; finally, several optimum solutions for the draft tube were obtained using a Response Surface technique aiming at maximizing pressure recovery and minimizing flow losses. A selection of optimized geometries was subsequently post-checked using the validated model of the entire turbine and a detailed flow analysis on the obtained results could make it possible to provide insight into the improved designs. It was observed that efficiency could be improved by 1% (in relative terms), and the mechanical power increased by 1,8% (in relative terms) with respect to the baseline turbine.