<p>A dual-target optimization method for magnetic compound fluid (MCF) polishing process was proposed to achieve high-quality and low-energy manufacturing of BK7 optical components. Taguchi design, grey correlation analysis as well as the analysis of variance (ANOVA) are successively conducted during the optimization process. Several BK7 samples were polished using different combinations of processing parameters designed with Taguchi’s orthogonal experiments, and the surface roughness, polishing force, and energy consumption of the samples were evaluated. Then the grey correlation analysis was conducted to determine the optimal polishing parameters regarding the dual-targets of low surface roughness <i>R</i>_<i>a</i> and simultaneous low polishing energy consumption <i>E</i>. Furthermore, ANOVA was conducted to reveal the significance of each parameter during the optimization process on dual-targets. The results show that the polishing quality is mostly influenced by the magnet thickness, followed by ultrasonic vibration amplitude, whereas it is not very sensitive to other processing parameters. The desired results of <i>R</i>_<i>a</i> of 15&#xa0;nm and <i>E</i> of 4.67&#xa0;min·W/mg can be realized when using the optimized polishing parameters. The research delivers critical process validation of the proposed method for MCF process optimization and establishes viable technical pathways to achieve high-efficiency precision optical component fabrication.</p>