In this study, an air separation plant working according to the principle of separation of two columns and producing argon, nitrogen, and oxygen with a daily capacity of 250 tons was analyzed in detail with respect to the first and second laws of thermodynamics and the results were evaluated. The energy and exergy values for each point defined in the system were obtained. By using these values, thermodynamic evaluations for both the whole system and also its components were made. The efficiency values of energy and exergy, the values of energy losses and exergy destruction rates, the EIP (energetic improvement potential rate), ExIP (exergetic improvement potential rate), and the production of entropy values were found as 0.453, 0.79, 4368.475 kW, 10535.875 kW, 2391.535 kW, 3800.485 kW, and 35.347 kW/K, respectively. The energy and exergy efficiencies of the plant were found to be 45.3% and 13.1% respectively.