The aims of this study are to weight the performance evaluation indices for higher education based on the official performance evaluation structure developed by the Taiwan Assessment and Evaluation Association (TWAEA) and to rank 12 private universities listed by the Ministry of Education as a case study. We apply a hybrid multiple-criteria decision-making (MCDM) model to accomplish these objectives. Specifically, we utilize the analytic hierarchy process (AHP) to accomplish the first aim, but we adopt the VlseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR) method for the second aim by utilizing the AHP outcome. We also compare the official rankings of the 12 private universities with our ranking of the same universities. Our study endeavors to help universities optimize their performances with efficiency. In addition, the results of this study could provide a reference point for other universities and related educational institutions in their efforts to conduct evaluations, improve their performances and form educational policies.