Integrating sustainable processes and innovative waste utilization not only addresses environ-mental challenges but also aligns with evaluating energy sustainability and creating the circular waste management. This study presents a comparative analysis of liquid fuel production from waste tires and water hyacinth using two thermochemical methods: co-pyrolysis (direct method) and co-gasification integrated with the Fischer-Tropsch (FT) process (indirect method). The As-pen Plus simulation software version 9 is employed to develop models, determining optimal operating conditions for maximum liquid fuel, and assessing economic viability. Co-pyrolysis simulations reveal an increase in oil products and a decrease in gas products with higher blending weight ratios of waste tires/water hyacinth (W/B) and lower pyrolyser temperatures. Operating at 400°C with a blending weight ratio of 75:25 provided the maximum liquid fuel rate of 6649.22 gal/day. For co-gasification, optimal conditions (W/B = 50:50, T = 800°C, steam to feed ratio (S/F) = 1) result in the highest syngas yield of 115.92 kmol/h. Fischer-Tropsch simulations demonstrate an increase in gasoline and a decrease in diesel with rising reactor temperatures. At 230°C, the maximum liquid fuel rate reaches 8817.15 gal/day. The economic and production yield analysis indicates that the indirect method better than the direct method, providing higher liquid fuel yields and investment worthiness.