This paper introduces a multi-objective optimization problem (MPO) for the forming process parameters of disc forgings using grey relational analysis (GRA) and the response surface methodology (RSM). Firstly, an experimental design based on the Box–Behnken design (BBD) principle was established, and simulations were performed in Deform to obtain response data. Secondly, GRA was used to transform the MPO into a grey relational degree (GRD) problem, and the entropic weight method was integrated to ascertain the influence weights of each variable on GRD. Then, a quadratic polynomial prediction model based on the RSM was constructed, and its accuracy was ensured through model validation. Finally, the optimal process parameter combination was determined through the particle swarm optimization algorithm, which included a friction coefficient of 0.3, an initial temperature of 1250 °C, and a downward pressing speed of 7.5 mm/s. The results of the experimental investigation indicate that optimized process parameters significantly reduce the forming load, equivalent stress, and damage value, effectively enhancing the overall quality of forged parts.