Strengthening the employment and entrepreneurship guidance for educated people to meet the realistic needs of social development for high-quality talents deserves in-depth study. This paper constructs a multi-objective planning model for college students’ employment and entrepreneurship, sets the objective function and state model of college students’ employment and entrepreneurship through the demand of college students’ employment market, and solves the model according to the constraints of priority ranking. From the perspective of talent supply, the proposed model is combined to plan the supply and structure of talents, and the regression model is used to predict the demand for college students’ employment and entrepreneurship. The scientificity and validity of the proposed planning model are verified by analyzing the effect of applying the model to college students in L City and analyzing the order of employment and entrepreneurship preferences. The results show that the preference weights of college students whose family economic status is particularly poor for employment and entrepreneurship geography, salary, enterprise size, unit nature, and job position are 0.187, 0.175, 0.204, 0.147, 0.287, indicating that job position preference is more valued in the process of choosing a career. The mean value of college students’ first-time employment and entrepreneurship rate is higher than that of the year 2019 by 0.051 in the year 2022. The application of a multi-objective planning model of college students’ employment and entrepreneurship can improve the employment and entrepreneurship rate, and promote the innovation and development of the guidance work of employment and entrepreneurship channel and career choice development of college and university-educated people.