Recently, the computed tomography (CT) and magnetic resonance imaging (MRI) medical image fusion have turned into a challenging issue in the medical field. The optimal fused image is a significant component to detect the disease easily. In this research, we propose an iterative optimization approach for CT and MRI image fusion. Initially, the CT and MRI image fusion is subjected to a multilabel optimization problem. The main aim is to minimize the data and smoothness cost during image fusion. To optimize the fusion parameters, the Modified Global Flower Pollination Algorithm is proposed. Here, six sets of fusion images with different experimental analysis are evaluated in terms of different evaluation metrics such as accuracy, specificity, sensitivity, SD, structural similarity index, feature similarity index, mutual information, fusion quality, and root mean square error (RMSE). While comparing to state‐of‐art methods, the proposed fusion model provides best RMSE with higher fusion performance. Experiments on a set of MRI and CT images of medical data set show that the proposed method outperforms a very competitive performance in terms of fusion quality.