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Summary: This study mainly focuses on determining the optimal configuration that efficiently utilizes liquefied natural gas (LNG) cold energy in hydrogen precooling for liquid hydrogen production. To achieve this goal, two different configurations are designed: (a) adding LNG cold energy to the existing hydrogen precooling cycle and (b) replacing the existing hydrogen precooling cycle with LNG cold energy. An equilibrium hydrogen model is developed to reflect the thermodynamic property of ortho‐para conversion of hydrogen. Bayesian optimization is performed to determine the optimal operating conditions which minimize the specific energy consumption for all configurations. The specific energy consumption of the configuration involving hydrogen precooling with only LNG is 5.613 kWh/kg‐LH2, and it is reduced by 8.13% and 3.19% from the base case design and the configuration involving hydrogen precooling with both LNG and a mixed refrigerant cycle, respectively. In addition, a techno‐economic analysis is conducted. Compare to the base case design, the capital cost and operating cost of the design replacing hydrogen precooling with LNG are reduced by 31.76% and 11.55%, respectively. This study shows that the proposed design of replacing the hydrogen precooling cycle with an LNG stream can save energy consumption, moreover, it is highly effective for capital investment saving due to its simple configuration. [ABSTRACT FROM AUTHOR]