A new method for designing non-uniform filter-banks for acoustic echo cancelation is proposed. In the method, the analysis prototype filter design is framed as a bi-criterion optimization problem that minimizes the aliasing power while maximizing the bandwidth. Consequently, an optimal trade-off curve between filter bandwidth and aliasing power is obtained, which is then used for selecting the most appropriate filter. To increase the degrees of freedom during optimization, no constraints are imposed on the phase or group delay of the filters. Experimental results show that the filter bank designed using the proposed method provides (1) greater reduction of aliasing power after analysis, (2) uniform reduction of the aliasing power across the spectrum after synthesis, and (3) greater flexibility in the selection of prototype filters.