The present investigation focuses on enhancing the efficiency of a vapor compression refrigeration system (VCRS) by proposing a Multiple Input Multiple Output (MIMO) control strategy based on the evaporator’s two-phase length and superheat temperature. A moving boundary dynamic model for the VCRS is implemented using the Thermosys Matlab Toolbox. The study analyzes the influence of actuation parameters, specifically compressor speed and expansion valve opening, on control parameters, namely two-phase length and superheat temperature. A comprehensive analysis based on the first and second laws of thermodynamics is conducted across a wide range of operating conditions. Simulation results demonstrate that two-phase length can be effectively utilized as a control parameter by selecting operating points that maximize the system efficiency. Additionally, the study reveals that extending the evaporator’s two-phase length to 80–90% of its limit increases system efficiency, enabling a reduction in compressor speed while maintaining the cooling capacity.