Background Elderly patients are more likely to suffer from severe ischemic stroke (IS) and have worse outcomes, including death and disability. We aimed to develop and validate predictive models using novel machine learning algorithms for the 3-month mortality in elderly patients with IS admitted to the intensive care unit (ICU). Methods We conducted a retrospective cohort study. Data were extracted from Medical Information Mart for Intensive Care (MIMIC)-IV and International Stroke Perfusion Imaging Registry (INSPIRE) database. Ten machine learning algorithms including Categorical Boosting (CatBoost), Random Forest (RF), Support Vector Machine (SVM), Neural Network (NN), Gradient Boosting Machine (GBM), K-Nearest Neighbors (KNNs), Multi-Layer Perceptron (MLP), Naive Bayes (NB), eXtreme Gradient Boosting (XGBoost) and Logistic Regression (LR) were used to build the models. Performance was measured using area under the curve (AUC) and accuracy. Finally, interpretable machine learning (IML) models presenting as Shapley additive explanation (SHAP) values were applied for mortality risk prediction. Results A total of 1826 elderly patients with IS admitted to the ICU were included in the analysis, of whom 624 (34.2%) died, and endovascular treatment was performed in 244 patients. After feature selection, a total of eight variables, including minimum Glasgow Coma Scale values, albumin, lactate dehydrogenase, age, alkaline phosphatase, body mass index, platelets, and types of surgery, were finally used for model construction. The AUCs of the CatBoost model were 0.737 in the testing set and 0.709 in the external validation set. The Brier scores in the training set and testing set were 0.12 and 0.21, respectively. The IML of the CatBoost model was performed based on the SHAP value and the Local Interpretable Model-Agnostic Explanations method. Conclusion The CatBoost model had the best predictive performance for predicting mortality in elderly patients with IS admitted to the ICU. The IML model would further aid in clinical decision-making and timely healthcare services by the early identification of high-risk patients.