As part of an integrated oxidative alkane dehydrogenation and hydrogen generation process, carbon dioxide from Pressure Swing Adsorption (PSA) off gas stream of Hydrogen Generation Unit (HGU), and alkane from any known source are sent to oxidative dehydrogenation (ODH) unit for producing high value olefins, such as ethylene, propylene and butenes. Products formed from ODH reactor are separated and the stream comprising of hydrogen, carbon monoxide and methane are recycled to Shift reactor of HGU unit for enhanced production of hydrogen at PSA.