Eco-friendly magnesium-based thermoelectric materials have recently attracted significant attention in green refrigeration technology and wasted heat recovery applications due to their cost effectiveness, non-toxicity, and earth abundance. The energy conversion efficiency of these thermoelectric materials is controlled by a dimensionless thermoelectric figure of merit (TFM), which depends on thermal and electrical conductivity. The independent tuning of the electrical and thermal properties of these materials for TFM enhancement is challenging. The improvement in the TFM of magnesium thermoelectric materials through scattering and structural engineering is experimentally challenging, especially if multiple elements are to be incorporated at different concentrations and at different doping sites. This work models the TFM of magnesium-based thermoelectric materials with the aid of single-hidden-layer extreme learning machine (ELM) and hybrid genetic-algorithm-based support vector regression (GSVR) algorithms using operating absolute temperature, elemental ionic radii, and elemental concentration as descriptors. The developed TFM-G-GSVR model (with a Gaussian mapping function) outperforms the TFM-S-ELM model (with a sine activation function) using magnesium-based thermoelectric testing samples with improvements of 17.06%, 72%, and 73.03% based on correlation coefficient (CC), root mean square error (RMSE), and mean absolute error (MAE) assessment metrics, respectively. The developed TFM-P-GSVR (with a polynomial mapping function) also outperforms TFM-S-ELM during the testing stage, with improvements of 14.59%, 55.31%, and 62.86% using CC, RMSE, and MAE assessment metrics, respectively. Also, the developed TFM-G-ELM model (with a sigmoid activation function) shows superiority over the TFM-S-ELM model with improvements of 14.69%, 79.52%, and 83.82% for CC, RMSE, and MAE assessment yardsticks, respectively. The dependence of some selected magnesium-based thermoelectric materials on temperature and dopant concentration on TFM was investigated using the developed model, and the predicted patterns align excellently with the reported values. This unique performance demonstrated that the developed intelligent models can strengthen room-temperature magnesium-based thermoelectric materials for industrial and technological applications in addressing the global energy crisis.