The role of medium-chain alcohol dehydrogenases (MDR) in the preparation of chiral drug intermediates is indispensable; however, limited activity and stability towards unnatural substrates are crucial factors that restrict their application. Further, research on the ancestral MDRs remains unclear. Therefore, enhancing the activity, selectivity, and stability of MDRs is necessary. In this study, we resurrected ancestors of the MDR family using ancestral sequence reconstruction with descendant GcADH as a probe. Among these ancestors, ancestor 136 exhibited increased thermal stability (ΔTm = 19.5 °C) and had a comparable conversion and selectivity as GcADH to the selected substrates. After in-silico screening using the Funclib tool, we obtained the mutant anc136-R2, which exhibited strengthened selectivity and activity towards N-Benzyl-3,3-difluoropiperidin-4-one (1a). Moreover, the mutations of anc136-R2 were simultaneously mapped to GcADH, resulting GcADH-R2. Based on the results of substrate spectrum characterisation, anc136 was more receptive to mutations. Specifically, for the substrates N-Boc-3-piperidone (4a) and N-boc-3-oxoazepane (7a), the conversion rates of anc136-R2 were 29 and 57 times higher, respectively, than those of GcADH-R2, without compromising selectivity. In conclusion, this work provides guidance for exploring the evolutionary trajectory of the MDR family and further illustrates the superior balanced “trade-off” of activity–selectivity–stability on ancestral enzymes.