<p>The circulating cooling system (CCS) is an auxiliary cooling system widely used in industrial processes, with substantial potential and significance for energy savings. However, in the field of energy-saving perception research for this system, issues such as incomplete evaluation systems and unreasonable indicator weighting still persist. Therefore, this paper establishes a new index system for industrial CCS by analyzing its operational mechanisms, covering three key aspects: heat exchange, cooling, and circulation. On this basis, by considering the subjective experience of experts and the objective characteristics of evaluation data, a comprehensive perception method based on the subjective assignment of the binomial coefficient method and the objective assignment of the CRITIC method is proposed to perform a thorough energy-saving evaluation of the system. Finally, the method’s applicability is validated through an accurate assessment of the energy-saving status of the CCS in a steel enterprise.</p>