The cost percentage of engine part in the total building cost of a ship is about 30-40% and the main engine occupies about 50% of the engine part cost. For certain ships the fuel bill can be as high as about 60-70% of the total operating cost after two oil shocks and its amount for one year is nearly equivalent to her main engine price. This fact has further increased the pressure on the engine builders to develop engines of higher efficiency and better possibilities to burn further deteriorated fuel qualities. But the energy-saving plants are ordinarily more expensive and their available amount of exhaust gas energy is less and therefore, they are not always profitable and optimum systems. This paper is prepared to decide the most economical and efficient engine systems by presenting reasonable selecting and economical evaluation methods of the main engine, which is the largest single unit and the most expensive, and its auxiliaries. In order to demonstrate the application of investigated methods in a practical case, a 46, 000 DWT class bulk carrier is selected as a model ship and her main engine and its auxiliaries are selected and evaluated. The result shows that the optimum determined has one year three months POP, 0.903 IRR at a year, 4, 116, 000 dollars PW in 15 years (for 5% escalation rate of fuel cost) and 9.522 BCR for same condition, when the engine plant of a same existing ship is taken as the basis.