Bifacial photovoltaic sunshade (BiPVS) is an innovative building-integrated photovoltaic (BIPV) technology. Vertically mounted BiPVS is capable of converting part of the incident solar radiation into electricity, regulating the indoor heat gain from solar penetration and improving daylighting. An excellent BiPVS design should comprehensively consider its impact on building performance and economic viability. This study aims to address this issue by proposing a parametric design-based multi-objective optimization (MOO) framework to maximize indoor useful daylight illuminance, minimize air-conditioning energy consumption, and shorten the payback period by optimizing BiPVS design parameters. The framework utilizes the Ladybug, Honeybee, and Wallacei plugins on the Rhino-Grasshopper simulation platform. It validates the optimization potential of BiPVS in a typical office located in a hot summer and warm winter zone. The results indicate that BiPVS has significant energy-saving and daylighting potential. Compared to the baseline model without BiPVS, useful daylight illuminance is increased by 39.44%, air-conditioning energy consumption is reduced by 12.61%, and the economically satisfactory payback period is 4.80 years. This study provides a practical solution for the competing objectives of daylighting and energy saving in buildings with significant renewable energy utilization. The developed framework is highly efficient and versatile and can be applied to other BIPV designs, which benefits the realization of carbon-neutral goals in the building sector.