A new assessment tool for evaluating decarbonization technologies that considers each technology’s sustainability, security, affordability, readiness, and impact for a specific country is proposed. This tool is applied to a set of decarbonization technologies for the power, transport, and industry sectors for the ten Southeast Asian countries that constitute ASEAN. This results in a list of the most promising decarbonization technologies, as well as the remaining issues that need more research and development. This study reveals several common themes for ASEAN’s decarbonization. First, carbon capture and storage (CCS) is a key technology for large-scale CO2 emission. Second, for countries that rely heavily on coal for power generation, switching to gas can halve their CO2 emission in the power sector and should be given high priority. Third, hydropower and bioenergy both have high potential for the majority of ASEAN countries if their sustainability issues can be resolved satisfactorily. Fourth, replacing conventional vehicles by electric vehicles is the overarching theme in the road transport sector, but will result in increased demand for electricity. In the medium to long term, the use of hydrogen for marine fuel and biofuels for aviation fuel are preferred solutions for the marine and aviation transport sectors. Fifth, for the industry sector, installing CCS in industrial plants should be given priority, but replacing fossil fuels by blue hydrogen for high-temperature heating is the preferred long-term solution.