At present, helium extraction from natural gas is main method of helium production industrially. Single helium extraction from natural gas may reduce economical efficiency of the process and LNG production may be conducted together with helium extraction. HYSYS is applied to simulate the combined process of helium extraction and LNG production from low helium natural gas and analyze the effect of key parameters on equipment energy consumption. Results show that the combined process can effectively use energy sources and reduce equipment investment and energy consumption. Analysis results suggest that nitrogen removal efficiency is optimal theoretically if 5 denitrification tower plates are applied and equipment energy consumption can be reduced if high pressure and flow rate of refrigerant and inlet temperature of denitrification tower and two-stage contraction tower are properly decreased and low pressure of refrigerant is increased properly. The combined process can provide useful reference for future similar projects.