SummaryWith the rapid development of big data, the explosive growth of data promotes the progress of the Internet of Things (IoT). Because it is hard for traditional cloud computing to meet vast computing tasks, scholars propose mobile edge computing (MEC) for the IoT. However, the mobility of users results in the instability of MEC performance. Besides, the conflict of interest between users and service providers needs to be balanced. To solve these problems, this paper constructs a virtual machine migration model based on many‐objective optimization (MaOVMMM). In MaOVMMM, four objectives are considered simultaneously: communication expense, computing expense, delay, and energy consumption. A many‐objective evolutionary algorithm with double population confrontation (MaOEA‐DPC) is suggested to support the MaOVMMM that is proposed. First, the population confrontation strategy is designed to better simulate the relationship between users and service providers. Second, the dynamic probability integration selection strategy is used to ensure the evolution ability of the algorithm. Simulation results demonstrate the effectiveness and superiority of MaOEA‐DPC when compared with other algorithms. This proposed approach can provide a superior virtual machine migration scheme for decision‐makers.