Optimum control parameter setting in complex and stochastic type processes is one of the most challenging problems to the process engineers. As such, effective model development and determination of optimal operating conditions of electric discharge machining process (EDM) are reasonably difficult. In this apper, an easy to handle optimization procedure, weight-varying multiobjective simulated annealing, is proposed and is applied to optimize two conflicting type response parameters in EDM—material removal rate (MRR) and average surface roughness (Ra) simultaneously. A solution set is generated. The Pareto optimal front thus developed is further modeled. An inverse solution procedure is devised so that near-optimum process parameter settings can be determined for specific need based requirements of process engineers. The results are validated.