Many plastic injection molding (PIM) process optimization problems are multi-objective optimization problems that optimize multiple mechanical properties. This paper proposed a determining method of optimal process parameters and their effect ranks using Taguchi method and TOPSIS in the PIM. TOPSIS was used to convert multiple mechanical properties into single comprehensive response. It was selected as a reasonable multi-attribute decision-making (MADM) method from among some well-known MADM methods based on mean rank correlation coefficient and mean absolute rank deviation. Taguchi method was used to design experiment and find the optimal process parameters. The proposed method was applied to determine the optimal values of the process parameters: melt temperature (MT), packing pressure (PP), cooling time (CT), and injection pressure (IP) for improving tensile strength, elasticity module, flexural modulus, and impact strength in the PIM with Acrylonitrile-Butadiene-Styrene compound as plastic materials and AISI 1020 as mold materials. The optimal values of the process parameters were MT of 280°C, PP of 28 MPa, CT of 22 s, and IP of 50 MPa, and their effect ranking was IP (51.941%), PP (32.280%), CT (9.045%), and MT (6.734%). The method could be widely applied to not only the PIM process optimization but also various manufacturing process optimization problems.