A modified organic Rankine cycle with two turbines and an ejector is presented. Energy and exegetic analysis based on the energy and mass principles is conducted, and a cycle simulation is carried out using Ebsilon Professional and Engineering Equation Solver Software. A parametric study of the effect of the turbines' exit pressure on the cycle performance is investigated, and the system parameters are optimized. The system total exergy destruction was found to be less by 20.5%, and the exergetic efficiency was higher by 28.2% in the proposed cycle when compared to those of the organic Rankine cycle with ejector. In addition, the minimum cycle destruction ratio of exergy with the highest exergy efficiency of 54.9% occurred at an exit pressure value of 2.3 bar of the 2nd turbine. In addition, a decrease of 23.8% in the 1st turbine's exit pressure would increase the power output by 14.4%, 13.3%, and 12.5% for the exit pressure values of 1.9, 2.1, and 2.3 bar, respectively. The system's thermal efficiency increased with decreasing the 1st turbine's exit pressure.