The variable valve mechanism, as a critical component for the efficient and low-carbon development of internal combustion engines, faces increasingly stringent requirements regarding its driving efficiency, output force, precision, and energy consumption. To address the limitations of existing technologies, a new composite electromagnetic valve train is proposed, characterized by a high force-to-power ratio, fast response, and high precision, along with a unique single/double drive mode, which offers greater flexibility in controlling valve timing parameters; however, it also introduces complex coupling relationships and increases the difficulty of optimization design. To this end, this paper establishes a thermodynamic model of the engine based on the composite electromagnetic valve mechanism. First, it analyzes the effects of different valve timing parameters and drive modes on engine performance; second, a multi-objective game theory optimization algorithm is employed to optimize the valve timing parameters and obtain the optimal solution set; finally, taking into account the energy consumption of the valve mechanism, engine emissions, and performance, a control strategy for valve timing parameters is developed based on an entropy-weighted method combined with a superiority and inferiority solution distance analysis. The results indicated that, under all the operating conditions of the engine, the average torque increased by 2.56%, the effective fuel consumption rate decreased by 6.23%, and nitrogen oxide emissions reduced by 9.86%. Meanwhile, an efficient and economical operational mode for the variable valve mechanism was obtained, providing new insights for the development of variable valve timing technology.