Aiming at the multi-parameter identification problem of an electro-hydraulic servo system, a multi-parameter identification method based on a penalty mechanism reverse nonlinear sparrow search algorithm (PRN-SSA) is proposed, which transforms the identification problem of a non-linear system into an optimization problem in a high-dimensional parameter space. In the initial stage of the sparrow search algorithm (SSA), the population distribution is not uniform, and the optimization process is easily disturbed by the local optimal solution. First, adopting a reverse learning strategy increases the exploratory nature of individuals in a population, improves population diversity, and prevents premature maturity. Subsequently, a flexible strain mechanism is provided through the nonlinear convergence factor, adaptive weight factor, and golden sine and cosine factor. The introduction of a nonlinear factor fully balances the global search and local development abilities of the algorithm. Finally, a punishment processing mechanism is developed for vigilantes while retaining the population, providing a suitable search scheme for individuals beyond the boundary, and making full use of the value of each sparrow individual. The effectiveness of each improved strategy is verified through simulation experiments with 23 benchmark functions, and the improved algorithm exhibits better robustness. The results of the model parameter identification of the electro-hydraulic servo system show that the method has a high fitting accuracy between the identification model data and the experimental data, and the fitting degree of the identification model exceeds 97.54%, which further verifies the superiority of the improved algorithm and the effectiveness of the proposed identification strategy.