Urban renewal project strategies such as; urban rehabilitation, urban redevelopment, urban revitalization, urban regeneration have been taking an important place in the public discussions and urban planning agenda especially for the last two decades. Because urban renewal projects that have been applied in various urban areas such as; urban decline areas, disaster prone areas, squatter housing areas, old, historical quarters of cities not only causing changes in the physical structure of cities, they are also affecting the social, economic and environmental dynamics in the built environment. These widespread applications bring out questions whether the urban renewal projects are good or not. The aim of the study is to develop criteria for a good urban renewal project.Thus, this thesis assesses the urban renewal projects in terms of planning outcome (physical, economic, social, environmental criteria) and planning process. The case of the thesis is the on the on-going .Kadifekale Urban Renewal Project (KURP). in Izmir and the study tries to answer the question whether KURP is a good urban renewal project depending on the developed set of criteria.Key Words: Urban Renewal, Criteria for a Good Urban Renewal Project.