The optimized mine ventilation system of this invention supplements mine ventilation basic control systems by establishing a dynamic ventilation demand as a function of real-time tracking of machinery and/or personnel location and where this demand is optimally distributed in the work zones via the mine ventilation network and where the energy required to ventilate is minimized while totally satisfying the demand for each work zones. The optimized mine ventilation system operates on the basis of a predictive dynamic simulation model of the mine ventilation network along with emulated control equipment such as fans and air flow regulators. The model always reaches an air mass flow balance where the pressure and density is preferably compensated for depth and accounts for the natural ventilation pressure flows due to temperature differences. Model setpoints are checked for safety bounds and sent to real physical control equipment via the basic control system.