The conversion of a waste heat energy to electricity is now becoming one of the key points to improve the energy efficiency in a process engineering. However, large losses of a low-temperature thermal energy are also present in power engineering. One of such sources of waste heat in power plants are exhaust gases at the outlet of boilers. Through usage of a waste heat regeneration system it is possible to attain a heat rate of approximately 200 MWth, under about 90°C, for a supercritical power block of 900 MWelfuelled by a lignite. In the article, we propose to use the waste heat to improve thermal efficiency of the Szewalski binary vapour cycle. The Szewalski binary vapour cycle provides steam as the working fluid in a high temperature part of the cycle, while another fluid – organic working fluid – as the working substance substituting conventional steam over the temperature range represented by the low pressure steam expansion. In order to define in detail the efficiency of energy conversion at various stages of the proposed cycle the exergy analysis was performed. The steam cycle for reference conditions, the Szewalski binary vapour cycle as well as the Szewalski hierarchic vapour cycle cooperating with a system of waste heat recovery have been comprised.