With the fast development of multi-band detection technology, the demand for multi-band stealth technology with thermal management in military and civilian fields is increasing. Although the metasurfaces can achieve multi-band stealth and thermal management, their fabrication is complex and costly. In this paper, a simple multilayer structure is used to realize laser-infrared compatible stealth with thermal management. More importantly, the traditional method of optimizing metasurface structures by manually scanning parameters consumes a lot of computational time and resources. In order to speed up design of nanostructures, we propose a wavelength-selective thermal emitter (WSTE) composed of ZnS/Ge3Sb2Te6 (GST) multilayer films and a Ni reflector using inverse design method. The simulation results show that, in the crystalline phase, the WSTE has low spectral emissivity (ε3-5μm = 0.12, ε8-14μm = 0.22) in the mid-wave infrared (MWIR) and long-wave infrared (LWIR), high spectral emissivity (ε5-8μm = 0.72) in the non-atmospheric window and high absorptivity (A1.06μm = 0.90, A1.55μm = 0.97, A10.6μm = 0.91) in the laser wavelengths, which indicates that the WSTE can simultaneously achieve MWIR, LWIR and laser stealth with radiative heat dissipation. The method proposed in this paper overcomes the problems of single-band stealth and inefficient. Moreover, by varying the crystallization fraction of the GST, the WSTE can achieve dynamic control of thermal radiation in the wavelength range of 3–14 µm. The simulated infrared images verify that WSTE has good infrared stealth performance. Finally, the effects of incidence angle and polarization angle on the emission spectrum of WSTE are studied, which can demonstrate the infrared stealth is insensitive to both. In conclusion, the WSTE is attractive in advanced photonics applications, such as radiative cooling and infrared stealth.