Due to the the lack of information about parameters in the datasheets of photovoltaic (PV) panels, it is difficult to study their modeling because PV behavior is based on voltage–current (V-I) data, which present a highly nonlinear relationship. To solve this difficulty, this study presents a mathematical three-diode model of a PV panel that includes multiple unknown parameters: photoinduced current, saturation currents of the three diodes, three ideality factors, serial resistance, and parallel resistance. These parameters should be estimated in the three-diode model of a PV panel to obtain the actual values that represent the voltage–current profile or the voltage–power profile (because of its visual simplicity) of the PV panel under analysis. In order to solve this problem, this paper proposes a new application of the salp swarm algorithm (SSA) to estimate the parameters of a three-diode model of a PV panel. Two test scenarios were implemented with two different PV panels, i.e., Kyocera KC200GT and Solarex MSX60, which generate different power levels and are widely used for commercial purposes. The results of the simulations were obtained using different irradiance levels. The proposed PV model was evaluated based on the experimental results of the PV modules analyzed in this paper. The efficiency of the optimization technique proposed here, i.e., SSA, was measured by a fair comparison between its numerical results and those of other optimization techniques tuned to obtain the best response in terms of the objective function.