Waqf and Sukuk are not seemingly equal things to compare, one is filled with a spiritual and social aspect, the other with a commercial aspect. But time proves that the development of Islamic economic concerns is complementary not only to commercial issues, but also to social issues. In addition, Pesantren is serious about empowering a potential business unit through waqf to enhance the economic development of Pesantren. The purpose of this study is to propose models of integrated sukuk based waqf model in Pesantren using qualitative approach, ANP (Analytic Network Process), accompanied with scholars, academicians, and practitioners with surveys and focus groups discussion. The results show that Sukuk has an important role to play in supporting Pesantren's waqf quality. This type of sukuk will generate a new source of fund for Pesantren on the basis of the ijarah theory, which can generate own profit for primary pesantren projects. This model shows the way Pesantren maintains and develops waqf asset toward a selffinancing waqf institution. Pesantren is responsible for both the primary and secondary projects through its two divisions: Pesantren Financing Corporation (PFC) and Pesantren Production Corporation (PDC). Finally, as a conclusion, is the author's expectation that this model would be an alternative model that could be more benefit to Pesantren in need.