In order to analyse the impact of renewable generation and load uncertainties on the economic operation optimization of the island microgrid, a multiobjective economic optimal dispatch model under uncertainty based on interval optimization is proposed in this paper. The mathematical model of distributed generation and the prediction model of wind speed and wave generation are established. The uncertainties of renewable generation and load are described by the interval mathematical method. On this basis, the interval multiobjective optimal dispatch model is presented. For the “battery disgusting” users on the island, the battery cost is regarded as a separate optimization objective, and a multiobjective optimization objective function to minimize the economic cost, battery cost, and pollution emission of the island microgrid is discussed. An island microgrid, composed of wind turbine, photovoltaic, wave energy generation, diesel generator, and energy storage system, is chosen as a case study. The NSGA-II algorithm is applied to solve the multiobjective optimal problem. The results for deterministic forecast data and load are analysed, and the optimal operation scheme is obtained by the improved multiobjective grey target decision-making method. The influence of renewable generation fluctuations ±10%, ±20%, and ±30% and the load fluctuations ±10% and ±20% on island microgrid operation optimization is discussed in detail, respectively. The relevant research results can provide a reference for formulating the operating scheme of the island microgrid.