In this study, we carry out economic and technical feasibility study for treatment process of waste solvent such as SD waste solution and stripper solution from LCD manufacturing process. Extensive screening work has been done for selecting the best extraction solvent. As a result, it is shown that $CHCl_3$ is the most adequate extraction solvent for separation and recovery of both SD waste solvent and stripper waste. Rigorous simulation study has been carried out for extraction process and distillation process as a candidate of waste solvent treatment. The result shows that the solvent extraction process is more beneficial than the simple distillation process.