Abstract: Based on the industrial operation data and the design data of 2.0 Mt/a hydrocracking unit in Qingdao Refining & Chemical Co. Ltd, SINOPEC, the operation flexibility of the unit was defined. The feedstock (VGO) properties are limited in the ranges: boiling point of 233-570 ℃，density of 850-931 kg/m3(20 ℃)，and sulfur content of 0.8%-2.5% and the operation parameters are as follows: throughput of 150-318 t/h, hydrorefining temperature 330-414 ℃, and cracking temperature 340-429 ℃. Under those constraint conditions, the yields of kerosene, diesel and tail-oil can reach 46.01%, 60.49% and 54.88% for kerosene, diesel and tail-oil solutions, respectively. The economic profit analysis of the solutions indicates that under the current pricing system, the kerosene solution is the best one.