It is expected that a coordinated operation of several system integrity protection schemes will become a necessity in the future. This research represents an innovative strategy for coordinating under-frequency load shedding and intentional controlled islanding schemes for improving electric power system stability and resilience. In the great majority of real-world cases, both approaches follow conventional tactics, i.e., disconnecting a fixed number of feeders at predefined frequency thresholds and isolating a predefined area of a power system regardless of the actual conditions. Under the newly arisen network conditions in which weather-dependent distributed energy sources introduce a significant level of intermittency, conventional approaches need to be upgraded in order to retain a high level of power system operation security. In this paper, a mixed-integer linear programming approach is used to adjust the island size, including/excluding additional substations according to the available amount of generation in the region. The fine-tuning of the power rebalancing is achieved by potentially blocking selected load shedding stages. This minimizes the power imbalance of the newly formed islands, which helps to reduce the number of partial or even total blackouts and also accelerates the power system’s restoration process. The optimization approach was tested on a generic IEEE 39-bus network and shows promising results along with the capability of coping with real-world applications using wide-area monitoring systems as a source of real-time measurements. The results also indicated the importance of appropriate load modelling since both voltage and frequency dependence are recognized to have a significant effect on intentional controlled islanding.