To deal with the increasing demand for low-volume customization of the mechanical properties of cold-rolled products, a two-way control method based on mechanical property prediction and process parameter optimization (PPO) has become an effective solution. Aiming at the multi-objective quality control problem of a company’s cold-rolled products, based on industrial production data, we proposed a process parameter design and optimization method that combined multi-objective quality prediction and PPO. This method used the multi-output support vector regression (MSVR) method to simultaneously predict multiple quality indices. The MSVR prediction model was used as the effect verification model of the PPO results. It performed multi-process parameter collaborative design and realized the optimization of production process parameters for customized multi-objective quality requirements. The experimental results showed that, compared with the traditional single-objective quality prediction model based on support vector regression (SVR), the multi-objective prediction model could better take into account the coupling effect between process parameters and quality index, the MSVR model prediction accuracy was higher than that of the SVR, and the optimized process parameters were more capable and reflected the influence of metallurgical mechanism on the quality index, which were more in line with actual production process requirements.