A cost combined life cycle environmental assessment was carried out to estimate the economic and environmental impact of wastewater treatment in the pulp production site of China. Results showed that the impact seen from abiotic depletion, acidification, eutrophication, global warming, fresh water aquatic ecotoxicity, and marine aquatic ecotoxicity categories represented an important contribution to the overall environmental impact, while the impact seen from human toxicity, terrestrial ecotoxicity, and photochemical oxidation categories played relatively small role. Specifically, the machine, electricity, coagulant production processes had the highest contribution to the overall environmental and economic impact. Improving electricity and chemicals applications efficiency are the efficient way to minimize overall environmental and economic impacts.