For the past two decades, composites have played an essential role in engineering. A perceptive amalgamation of two or more substances yields a synergistic effect unattainable by alternative methods. Composites combine two or more phases to create superior materials. Proper selection of processing parameters is crucial to achieving quality castings, especially in squeeze casting of metal matrix composites. This study investigates melt temperatures (710–800 °C) of AA2024 and examines the effects on microstructure, porosity reduction, and mechanical properties. It evaluates the response of AA2024/nZrO2 MMC to variations in melt and die temperatures and pressure. Wear rate analysis includes sliding speed, load, and surface conditions. EDM machining behavior is also studied, and TOPSIS with entropy weight method is used to determine optimal machining parameters. The study concludes that parameter optimization is essential for ensuring nanoparticle stability and dimensional accuracy.