Oilfield development planning is a complex task that involves multiple optimization objectives and constraints. Therefore, a study proposes an improved shuffled frog leaping algorithm to achieve multi-objective optimization tasks. In multi-objective problems, the fitness value of the algorithm is not adaptive to the memetic evolution, resulting in local search failures. Research is conducted on improving the shuffled frog leaping algorithm through non-dominated sorting genetic algorithm-II, memetic evolution, and traversal methods, and then verifying the effectiveness of the algorithm. The outcomes denoted that when the population was 30 and the grouping was 5, the algorithm proposed in the study had the fastest search speed and better optimization effect. The improved shuffled frog leaping algorithm had advantages in both construction period and cost compared to the shuffled frog leaping algorithm, with a construction period difference of 19 days and a cost difference of $13871. In comparative experiments with other algorithms, the average optimal solution and running time of the proposed algorithm were 0.324 and 7.2 seconds, respectively, which can quickly find the optimal solution in a short time. The algorithm proposed in the study can effectively optimize the complex objectives and constraints in oilfield development planning problems.