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A comparative study between the conventional goal attainment strategy and an evolutionary approach using a genetic algorithm has been conducted for the multiobjective optimization of the strength and ductility of low-carbon ferrite-pearlite steels. The optimization is based upon the composition and microstructural relations of the mechanical properties suggested earlier through regression analyses. After finding that a genetic algorithm is more suitable for such a problem, Pareto fronts have been developed which give a range of strength and ductility useful in alloy design. An effort has been made to optimize the strength ductility balance of thermomechanically-processed high-strength multiphase steels. The objective functions are developed from empirical relations using regression and neural network modeling, which have the capacity to correlate high number of compositional and process variables, and works better than the conventional regression analyses.