The main objective of this article is to study the thermal and structural performance of piston using finite element based commercial software ANSYS. Piston is modelled using SOLIDWORKS and analysis would be performed through ANSYS workbench. Optimization analysis has been performed considering three different materials such as Grey Cast iron, structural steel and aluminium alloy because these three material have good compression strength and their thermal conductivity and density will different for each one. For the same amount of pressure Aluminium alloy has shown maximum deformation and equivalent strain, where von misses stress value is minimum for it. Whereas, Structural steel and Grey cast iron shows deformation and strain values less than that of Aluminium alloy for same pressure load. Aluminium alloy has highest heat flux and lowest temperature on piston head under thermal load. Piston receives thermal energy generated via combustion and higher heat flux ensures quick cooling of component by quick drainage of thermal energy. Grey cast iron and Structural steel has half of the value of heat flux to that of Aluminium alloy. Therefore, Aluminium alloy is the preferable material for the design of automobile piston among the given three materials.