In order to improve the channel equalization, improve the control quality, and reduce the error of the target output of the online sequential learning machine, a multi-objective model selection algorithm is proposed based on feedback compensation and adaptive equalization control. The channel equalization model of online sequential ultimate learning machine is constructed. The sensor fusion information of online sequential limit learning machine is selected adaptively by multi-objective combined control, and the multi-objective combined control is carried out by using matched filtering method. Combined with feedback compensation and adaptive equalization control method, the classification selection and equalization of network multi-objective models are realized. The simulation results show that the algorithm has good accuracy in classifying and selecting multi-objective models of online sequential LLM, the adaptive equalization performance of the channel is better, and the error of LLM control is low.