The inverse heat conduction method is one of methods to identify the casting simulation parameters. A new inverse method was presented according to the Tikhonov regularization theory. One appropriate regularized functional was established, and the functional was solved by the sensitivity coefficient and Newton-Raphson iteration method. Moreover, the orthogonal experimental design was used to estimate the appropriate initial value and variation domain of each variable to decrease the number of iteration and improve the identification accuracy and efficiency. It illustrated a detailed case of AlSi7Mg sand mold casting and the temperature measurement experiment was done. The physical properties of sand mold and the interfacial heat transfer coefficient were identified at the meantime. The results indicated that the new regularization method was efficient in overcoming the ill-posedness of the inverse heat conduction problem and improving the stability and accuracy of the solutions.