In this paper a new framework is presented for multi–objective Transmission Expansion Planning (TEP). This framework is based on a multiple criteria decision making whose fundamental elements are REliability and MARKet (REMARK). Investment cost, congestion cost, Users' Benefit (UB) and Expected Customer Interruption Cost (ECOST) are considered in the optimization as four objectives. The proposed model is a complicated non–linear mixed–integer optimization problem. A hybrid Genetic Algorithm (GA) and Quadratic Programming (QP) is used, followed by a Fuzzy Sets Theory (FST) to obtain the final optimal solution. The planning methodology has been demonstrated on the 6–machine 8–bus test system to show the feasibility and capabilities of the proposed algorithm. Also, in order to compare the historical expansion plan and the expansion plan developed by the proposed methodology, it was applied to the real life system of the northeastern part of Iranian national 400–kV transmission grid.