Nickel-based superalloys find their main use in missile engines, atomic devices, investigational aircraft, aerospace engineering, industrial applications, and automotive gas turbines, spacecraft petrochemical tools, steam power, submarines, and broader heating applications. These superalloys impose certain difficulties during the process fabrication owing to their levels of higher hardness. In the current study, the precise machining of Waspaloy was attempted through the wire electrical discharge machining (WEDM) technique. A multi-objective optimization has been performed, and the influence of multi-walled carbon nanotubes (MWCNTs) has been assessed using the passing vehicle search (PVS) algorithm. The effects of machining variables like current, Toff, and Ton were studied using the output measures of material removal rate (MRR), recast layer thickness (RLT), and surface roughness (SR). The Box–Behnken design was applied to generate the experimental matrix. Empirical models were generated which show the interrelationship among the process variables and output measures. The analysis of variance (ANOVA) method was used to check the adequacy, and suitability of the models and to understand the significance of the parameters. The PVS technique was executed for the optimization of MRR, SR, and RLT. Pareto fronts were derived which gives a choice to the user to select any point on the front as per the requirement. To enhance the machining performance, MWCNTs mixed dielectric fluid was utilized, and the effect of these MWCNTs was also analyzed on the surface defects. The use of MWCNTs at 1 g/L enhanced the performance of MRR, SR, and RLT by 65.70%, 50.68%, and 40.96%, respectively. Also, the addition of MWCNTs has shown that the machined surface largely reduces the surface defects.