This paper focuses on solving the multi-objective optimal power flow of large-scale power systems under critical loading margin stability with accuracy using a novel improved mountain gazelle optimizer (IMGO)-based flexible distributed strategy. Multi-shunt compensator-based flexible alternative current transmission systems (FACTS), such as SVC and STATCOM devices, are integrated at specified locations to exchange reactive power with the network. Several metaheuristic methods can solve the standard OPF related to small and medium test systems. However, by considering large-scale electric systems based on FACTS devices and renewable energy and by considering the operation under loading margin stability, the majority of these techniques fail to achieve a near-global solution because of the high dimension and nonlinearity of the problem to be solved. This study proposes the Multi-Objective OPF-Based Distributed Strategy (MO-OPFDS), a new planning strategy that optimizes individually and simultaneously various objective functions, in particular the total power loss (T∆P), and the total voltage deviation (T∆V). Standard MGO search is enhanced by automatically balancing exploration and exploitation throughout the search. The robustness of the proposed variant was validated on a large electric test system, the IEEE 118-Bus, and on the Algerian Network 114-Bus under normal conditions and at critical loading margin stability. The obtained results compared with several recent techniques clearly confirm the high performance of the proposed method in terms of solution accuracy and convergence behavior.