Due to the presence of large number of process variables and complicated stochastic nature, selection of optimum machining parameter combinations for obtaining higher material removal rate with minimum overcut and surface roughness is a challenging task in Micro Wire Electric Discharge Machining (μ-WEDM). The important parameters of Material Removal Rate (MRR), overcut and surface roughness are considered in this study of single pass μ-WEDM machining of aluminium. The system model is created with statistical based regression analysis using experimental data. This system model is employed to maximize the material removal rate and minimize the surface roughness and overcut using Simulated Annealing (SA) scheme. Finally consistency of the method is tested with trial values. The model is found as capable of predicting the response characteristics as a function of different control variables. Experiments are carried out to check the validity of the developed model and then optimal parametric combinations are searched out using an advanced optimization strategy.