The materials used in engineering have seen a significant transformation in the contemporary world. Numerous composites are employed to overcome these problems because conventional materials are unable to meet the needs of current applications. For quite some time, professional engineers and researchers have been captivated by the problem of choosing the best machining parameters for new composite materials. Wire electrical discharge machining is a popular unconventional machining process that is often used for making complex shapes. Numerous process parameters influence the WEDM process. Thus, to achieve affordable and high-quality machining, the right set of process parameters must be provided. Finding the wire cut EDM optimized settings for the fabricated LM5/ZrO2/Gr composite is the main aim of this research. The chosen input parameters are the wire feed, pulse on and pulse off times, the gap voltage, and the reinforcing percentage. In this study, LM5/ZrO2/Gr composites were made from stir casting with 6-weight percent ZrO2 as the reinforcement and varying graphite percentages of 2, 3, and 4 wt%. Then they were machined in WEDM using L27 OA to seek the best parameters for machining by adjusting the input parameters. The findings were analysed by means of grey relation analysis (GRA) to achieve the supreme material removal rate (MRR), lowest surface roughness (SR), and a smaller kerf width (Kw) simultaneously. GRA determines the impact of the machining variables on the standard characteristics and tests the impact of the machining parameters. Confirmation experiments were performed finally to acquire the best findings. The experimental findings and GRA show that the ideal process conditions for achieving the highest grey relational grade (GRG) are 6% ZrO2 with 2% graphite reinforcement, a wire feed of 6 m/min, a pulse off time (Toff) of 40 µs, a pulse on time (Ton) of 110 µs, and a gap voltage (GV) of 20 V. The gap voltage (22.87%) has the greatest impact on the GRG according to analysis of variance (ANOVA), subsequent to the interaction between the pulse on time and the gap voltage (16.73%), pulse on time (15.28%), and pulse off time (14.42%). The predicted value of the GRG is 0.679; however, the experimental GRG value is 0.672. The values are well-aligned between the expected and the experimental results. The error is only 3.29%, which is really little. Finally, mathematical models were created for each response.