Optimization approach to effective radioactive waste management in advanced fuel cycle is proposed in the paper. This approach is based on the optimal control theory. The considered controlled system contains a system of ordinary differential equations, describing radioactive isotopes concentration change in time and a number of switching points in which the system state can be changed. The values of variables in the switching points are the optimizing parameters, subjected to determination. Moreover, because the recycling of nuclear waste is supposed to fulfill in subcritical reactor, the constraints on effective multiplication factor are also taken into account during numerical calculations.