Reactive dyeing is primarily used in the textile industry to achieve a high level of productivity for high-quality products. This method requires heating a large amount of freshwater for dyeing and cooling for the biological treatment of discharged wastewater. If the heat of the wastewater discharged from the textile industry is recovered, energy used for heating freshwater and cooling wastewater can be significantly reduced. However, the energy efficiency of this industry remains low, owing to the limited use of waste heat. Hence, this study suggested a cost-optimal heat exchanger network (HEN) in a heat pump-assisted textile industry wastewater heat recovery system with maximizing energy efficiency simultaneously. A novel two-step approach was suggested to develop the optimal HEN in heat pump-assisted textile industry wastewater heat recovery system. In the first step, the system was designed to integrate the heat exchanger and heat pump to recover waste heat effectively. In the second step, the HEN in the newly developed system was retrofitted using super-targeted pinch analysis to minimize cost and maximize energy efficiency simultaneously. As a result, the proposed wastewater heat recovery system reduced the total annualized cost by up to 43.07% as compared to the conventional textile industry lacking a wastewater heat recovery system. These findings may facilitate economic and environmental improvements in the textile industry.