Laser drilling is progressively becoming the choice for precision drilling for variety of components. This paper presents grey relational optimization approach combined with fuzzy methodology for determining the optimum process parameters which minimizes HAZ and hole circularity and maximize material removal rate in a Pulsed Nd:YAG laser micro-drilling in high carbon steel within existing resources. The input process parameters considered are pulse width, number of pulses, assist gas flow rate and its supply pressure. The experimental results obtained from L25orthogonal array are used in grey-fuzzy methodology and the parameters of the quality characteristics are determined optimizing the parameters.