Owing to the complexity of electrochemical machining (ECM), it is very difficult to determine optimal cutting parameters for improving cutting performance. Hence, optimization of operating parameters is an important step in machining, particularly for unconventional machining procedures like ECM. A suitable selection of machining parameters for the ECM process relies heavily on the operator’s technologies and experience because of their numerous and diverse range. Machining parameters provided by the machine tool builder cannot meet the operator’s requirements. Since for an arbitrary desired machining time for a particular job, they do not provide the optimal conditions. To solve this task, multiple regression model and ANN model are developed as efficient approaches to determine the optimal machining parameters in ECM. In this paper, current, voltage, flow rate and gap are considered as machining parameters and metal removal rate and surface roughness are the objectives. Then by applying grey relational analysis, we calculate the grey grade for representing multi-objective model. Multiple regression model and ANN model have been developed to map the relationship between process parameters and objectives in terms of grade. The experimental data are divided into training and testing data. The predicted grade is found and then the percentage deviation between the experimental grade and predicted grade is calculated for each model. The average percentage deviations for the training data of the linear regression model, logarithmic transformation model, excluding interaction terms and ANN model, are 12.7, 25.6 and 3.03, respectively. The average percentage deviations for the testing data of the three models are 9.83, 26.8 and 2.67. While examining the average percentage deviations of three models, ANN is having less percentage deviation. So ANN is considered as the best prediction model. Based on the testing results of the artificial neural network, the operating parameters are optimized. Finally, ANOVA is used to identify the significance of multiple regression model and ANN model.