This paper presents a methodology and a software tool to establish an eco-design concept of a product and its life cycle by assigning appropriate life cycle options to the components of the product. The product life cycle planning (LCP) methodology provides the following systematic procedures. First, the medium- or long-term production and collection plan for the product family is clarified. Next, target values for the product and its life cycle are set in the process of determination of customer-oriented specification and eco-specification. Then, eco-solution ideas to realize reasonable resource circulation are generated by using various life cycle option analysis charts. Finally, an eco-design concept which involves eco-solution ideas is evaluated for decision-making at early stages of product development. A design support tool was made for efficiently planning product life cycles by using quality function deployment and life cycle assessment data. Based on case studies, it was verified that the proposed methodology and tool are useful for developing multi-generational eco-products.