Techniques are provided for software license optimization using machine learning-based user clustering. One method comprises obtaining key performance indicators indicating individual usage by a plurality of users of a software product; applying at least one function to the key performance indicators to obtain a plurality of time dependent features; processing the time dependent features using a machine learning model to cluster the users into a plurality of persona clusters; and determining a number of each available license type for the software product for the plurality of users based on the persona clusters. The key performance indicators comprise, for example, user behavioral data with respect to usage of the software product and/or performance data with respect to usage of the software product. One or more policies can be determined for managing an allocation of the available license types for the software product to the plurality of users.
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