This paper presents the machining characteristics and parametric optimisation of Inconel 825 during die-sinking electrical discharge machining (EDM) process. This work considers seven input parameters out of which six are of three levels and one is of one level. Metal removal rate (MRR), tool wear rate (TWR) and surface roughness (SR) have been considered as performance measures. Before carrying out physical experimental runs, the experiments have been designed using Taguchi's L36 (2 1 × 3 6 ) orthogonal array (OA). In order to identify the significant input parameters, Analysis of Variance has been employed on the experimental data. Discharge current, pulse-on-time, tool material and tool electrode lift time are found as significant input parameters. The effects of these significant parameters on the performance measures have been presented using Taguchi's technique. After machining, study of surface characteristics of the electric discharged machined surface has been carried out using scanning electron microscopy (SEM), energy dispersive x-ray spectroscopy (EDXS) and X-ray diffraction (XRD). These studies help in obtaining the information pertaining to topography of the machined surface, material transfer from tool and dielectric to the machined surface, and presence of extra element and their different phases at the machined surface. It has been found from the research that Carbon, Oxygen, Iron, Nickel, Chromium and little amount of Molybdenum are transferred to the surface of work piece. Further, for the best yield of the process, the optimal combination of input parameters has been obtained and reported using Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) as a multi-objective optimisation technique. Consideration of two different dielectric fluids and three different electrode materials is the novelty of the work.