Applying finite time thermodynamics theory and the non-dominated sorting genetic algorithm-II (NSGA-II), thermodynamic analysis and multi-objective optimization of an irreversible Diesel cycle are performed. Through numerical calculations, the impact of the cycle temperature ratio on the power density of the cycle is analyzed. The characteristic relationships among the cycle power density versus the compression ratio and thermal efficiency are obtained with three different loss issues. The thermal efficiency, the maximum specific volume (the size of the total volume of the cylinder), and the maximum pressure ratio are compared under the maximum power output and the maximum power density criteria. Using NSGA-II, single-, bi-, tri-, and quadru-objective optimizations are performed for an irreversible Diesel cycle by introducing dimensionless power output, thermal efficiency, dimensionless ecological function, and dimensionless power density as objectives, respectively. The optimal design plan is obtained by using three solution methods, that is, the linear programming technique for multidimensional analysis of preference (LINMAP), the technique for order preferences by similarity to ideal solution (TOPSIS), and Shannon entropy, to compare the results under different objective function combinations. The comparison results indicate that the deviation index of multi-objective optimization is small. When taking the dimensionless power output, dimensionless ecological function, and dimensionless power density as the objective function to perform tri-objective optimization, the LINMAP solution is used to obtain the minimum deviation index. The deviation index at this time is 0.1333, and the design scheme is closer to the ideal scheme.