Before selecting a proper hydraulic turbine for power generation, conflicting factors frequently emerge from the wide range of available technology alternatives. The preliminary selection of hydraulic turbines (PSHT) has been usually carried out by overlooking and/or overshadowing downstream and upstream processes. The development of a new conceptual framework that allows for including more parameters into the decision-making process at company levels is still required to avoid the danger of engaging in a one-dimensional approach, which would not only result in a reduced and simplistic vision of the choice but would also overlook the trade-offs between individual aspects and the possible unintended side-effects. This paper aims to provide empirical evidence for the PSHT by proposing a well-thought-out framework based on a mixed methodology approach (analytical hierarchy process (AHP) and fuzzy-VIKOR multi-criteria methods) and focused on small hydropower projects. A total of 16 criteria are proposed and divided into 4 main categories—(i) turbine performance, (ii) turbine and generator costs, (iii) other equipment costs, and (iv) civil costs. Findings reported here reveal a specific alignment between investors’ preferences and experts’ judgments with real market practices. The 16 proposed criteria can be further considered to support the decision-making process for PSHT in different head and flow conditions.