Nutrient recovery in domestic wastewater treatment has increasingly become an important area of study as the supply of non-renewable phosphorus decreases. Recent bench-scale trials indicate that co-generation of struvite and hydrogen using electrochemical methods may offer an alternative to existing recovery options utilized by municipal wastewater treatment facilities. However, implementation has yet to be explored at plant-scale. In the development of novel nutrient recovery processes, both economic and environmental assessments are necessary to guide research and their design. The aim of this study was to conduct a prospective life cycle assessment and cost analysis of a new electrochemical struvite recovery technology that utilizes a sacrificial magnesium anode to precipitate struvite and generate hydrogen gas. This technology was modeled using process simulation software GPS-X and CapdetWorks assuming its integration in a full-scale existing wastewater treatment plant with and without anaerobic digestion. Struvite recoveries of 18–33% were achieved when anaerobic digestion was included, with a break-even price of $6.03/kg struvite and $15.58/kg of hydrogen required to offset increased costs for recovery. Struvite recovery reduced aquatic eutrophication impacts as well as terrestrial acidification impacts. Tradeoffs between benefits from struvite and burdens from electrode manufacturing were found for several impact categories.