The field of space science places significant emphasis on deep space exploration, with a particular focus on asteroids as a potential hazard to humanity. Inverting their physical characteristics from photometric observations is essential for uncovering their origins and evolution. This article attempts to present a solution to the challenging task of estimating the physical properties of binary asteroids, which are common in near-Earth asteroids larger than 200 meters. A novel model for binary asteroids is proposed, which integrates orbital and rotational motions to simulate brightness variations based on two Cellinoid shapes. The model combines the projection and occultation effects of the shapes to generate the simulated brightness. The inversion of determining physical properties is optimized based on the Levenberg–Marquardt algorithm through a simulation process involving several parameter corrections. Finally, the performance of the proposed model is demonstrated through numerical experiments and applications to two real binary asteroids, namely, asteroid (317) Roxane and asteroid (624) Hektor. The derived results are nearly identical to those from other publications, which confirms that the proposed model provides reliable and accurate estimations of the physical properties of binary asteroids. Additionally, this method has a potential application in supporting the development of effective strategies for the Double Asteroid Redirection Test (DART) project, the first planetary defense experiment in space undertaken by humans.