Life Cycle Analysis (LCA) is more and more used in the context of electromagnetic product design. But it is often used to check a design solution regarding environmental impacts after technical and economical choices. In this paper, we are investigating Life Cycle Impact Optimization (LCIO) and comparing with the classical Life Cycle Cost Optimization (LCCO). First, a model of a dry type transformer using different material for windings and magnetic core is presented. LCCO, which is a mixed continuous-discrete, multi-objective technico-economic optimization, is done using both deterministic and genetic algorithms. LCCO results and optimization performances are analysed, and a LCA is presented for a set of optimal solutions. The final part is dedicated to the LCIO, where we are showing that these optimal solutions are very close to those obtained with LCCO.