This paper proposes the multi-objective optimization of a double-stator hybrid-excited flux-switching permanent-magnet (DSHE-FSPM) machine, which aims at the contradictory objective achievement. Firstly, the proposed machine topology is presented. Also, the general analytical geometric model is built up, which matches the typical DS-FSPM machines. Secondly, the archive-based multi-objective genetic algorithm (AMOGA) optimization is carried out. The contradictory multi-objectives contain the maximum efficiency, minimum PM cost, and minimum torque ripple. Also, the minimum inner and outer radial force difference is included, which can effectively reduce the vibration and manufacturing difficulty. Additionally, before the optimization process, the sensitivity analysis is employed to alleviate the calculation burden. Thirdly, the hybrid flux-modulating machine performances and the prototype experimental results are presented, which can verify the feasibility of the proposed optimization strategy and the optimal machine design.