In the current study, the heat transfer characteristics of a novel design microchannel with a wavy sinusoidal convergent-divergent wall structure featuring streamlined pins have been numerically investigated under laminar flow conditions. Various amplitudes, wavelengths, pin heights, and Reynolds numbers are considered as parameters. The thermal and hydraulic characteristics are analyzed in terms of Nusselt number, Fanning friction factor, and Performance Evaluation Criteria number (PEC), which evaluates the heat transfer enhancement against the associated pressure drop. It is revealed that increasing the amplitude and decreasing wavelength, along with moderate pin heights, significantly augment heat transfer. The streamlined pins effectively direct the flow, and the resulting secondary flow and chaotic advection considerably enhance heat transfer in the designed configuration. The study demonstrates that the heat transfer can be improved by a factor of 4.79 compared to a straight microchannel. Under these geometric and flow conditions, the pressure drop increases by a factor of 9.87, and the PEC is found to be around 2.23. A multi-objective optimization study using the Non-dominated Sorting Genetic Algorithm (NSGA-II) is conducted with Genetic Aggregation Response Surface Methodology to evaluate the impact of various parameters on thermal-flow performance and to identify the optimal design with material quantity variation. According to the optimal results, a 5 % increase in material can augment thermal-flow performance by approximately 206.6 % compared to traditional microchannels. Finally, practical correlations for the Nusselt number and friction factor, accounting for various parameters, have been developed to facilitate in designing of microchannel cooling systems.