Multi-material co-extrusion is a complex thermo-mechanical forming process used to obtain bimetallic billets. Its complexity is due to the combination of diffusion phenomena in the interface of both materials together with the high temperature and pressure generated and the different flow stress characteristics created by the joining of dissimilar materials. Accordingly, the selection of optimal process parameters becomes key to ensure process feasibility. In this work, a comparison among different multi-criteria decision making (MCDM) methodologies, together with different weighting methods, were applied to the simulation results by using DEFORM3D© software to select the optimal combination of process parameters to fulfil the criteria of minimum damage, extrusion force, and tool wear, together with the maximum reduction in the average grain size.