Shrimp waste is a valuable source for chitin extraction and consequently for chitosan preparation. In the process of obtaining chitosan, a determining step is the chitin deacetylation. The main characteristic of chitosan is the degree of deacetylation, which must be as high as possible. The molar mass is another important parameter that defines its utilizations, and according to these, high or low molar masses are required. The present study is an attempt to optimize the deacetylation step to obtain chitosan with a high degree of deacetylation and high or low molar mass. The study was carried out based on experimental data obtained in the frame of a central composite design where three working parameters were considered: NaOH concentration, liquid:solid ratio, and process duration. The regression models defined for the degree of deacetylation (DD) and for the mean molar mass (MM) of chitosan powders were used in the formulation of optimization problems. The objectives considered were simultaneous maximum DD and maximum/minimum MM for the final chitosan samples. For these purposes, multiobjective optimization problems were formulated and solved using genetic algorithms implemented in Matlab®. The multiple optimal solutions represented by trade-offs between the two objectives are presented for each case.