The disclosure concerns a waste heat recovery cycle system and related method in which a Brayton cycle system operates in combination with a Rankine cycle system. The Brayton cycle system has a heater configured to circulate a fluid, namely an inert gas, in heat exchange relationship with a heating source, such as an exhaust gas of a different system, in order to recover waste heat from such different system by heating the inert gas. The Rankine cycle system has a heat exchanger configured to circulate a second fluid, in heat exchange relationship with the inert gas of the Brayton cycle system to heat the second fluid while at the same time cooling the inert gas. The second fluid can be selected among fluids having a boiling point at a temperature lower than the temperature of the inert gas from the expansion unit/group in the Brayton cycle system.