Plasma‐sprayed yttria‐stabilized zirconia coatings have been used in gas turbines for decades. They are applied for thermal insulation to increase operating temperature and hence efficiency and component's lifetime. To keep manufacturing costs low, especially deposition efficiency is important. However, increasing it is also related to a reduction in porosity, affecting the insulating properties of the layer. To find an optimal combination of efficiency and technological performance, a systematic study of the most affecting parameters of the atmospheric plasma spraying process is conducted, using response surface methodology. In detail, the influence of current, spraying distance, and hydrogen gas flow is investigated with respect to the deposition efficiency, porosity, microstructure, and mechanical properties of the coatings. Characterization is carried out by scanning electron microscopy, microindentation tests, and three‐point bending tests. The models generated based on these measured properties allow predictions of the system responses for any parameter variation in the investigated design space. In addition, a numerical model is developed for targeted optimization of the coating properties. This can be used to produce optimized coatings for load‐flexible gas turbines with high deposition efficiency, high porosity, and at the same time advantageous mechanical properties.