In the current context of increasing energy demand, timber-glass buildings will become a necessary trend in sustainable architecture in the future. Especially in severe cold zones of China, energy consumption and the visual comfort of residential buildings have attracted wide attention, and there are always trade-offs between multiple objectives. This paper aims to propose a simulation-based multiobjective optimization method to improve the daylighting, energy efficiency, and economic performance of timber-glass buildings in severe cold regions. Timber-glass building form variables have been selected as the decision variables, including building width, roof height, south and north window-to-wall ratio (WWR), window height, and orientation. A simulation-based multiobjective optimization model has been developed to optimize these performance objectives simultaneously. The results show that Daylighting Autonomy (DA) presents negative correlations with Energy Use Intensity (EUI) and total cost. Additionally, with an increase in DA, Useful Daylighting Illuminance (UDI) demonstrates a tendency of primary increase and then decrease. Using this optimization model, four building performances have been improved from the initial generation to the final generation, which proves that simulation-based multiobjective optimization is a promising approach to improve the daylighting, energy efficiency, and economic performances of timber-glass buildings in severe cold regions.