The growing popularity of plug-in hybrid electric vehicles (PHEVs) is due to their environmental advantages. But uncoordinated charging of a large number of PHEVs can lead to a significant surge in peak loads and higher charging costs for PHEV owners. To end this, this paper introduces an innovative approach to address the issue by proposing a multi-objective weighting control for coordinated charging of PHEVs in a future smart grid, which aims to find an economically optimal solution while also considering load stabilization with large-scale PHEV penetration. Technical constraints related to the owner’s demand and power limitations are considered. In the proposed approach, the charging behavior of PHEV owners is modeled by a normal distribution. It is observed that owners typically start charging their vehicles when they arrive home and stop charging when they go to their workplace. The charging cost is then calculated based on the tiered electricity price and charging power. By adjusting the cost weighting factor and the load stability weighting factor in the multi-objective function, the grid allows for flexible weight selection between the two objectives. This approach effectively encourages owners to actively participate in coordinated charging scheduling, which sets it apart from existing works. The algorithm offers better robustness and adaptability for large-scale PHEV penetration, making it highly relevant for the future smart grid. Finally, numerical simulations are presented to demonstrate the desirable performance of theory and simulation.