In this paper, the problem of optimizing the design of an inductive Magneto-Hydro-Dynamic (MHD) electric generator is formalized as a multi-objective optimization problem where the conflicting objectives consist of maximizing the output power while minimizing the hydraulic losses and the mass of the apparatus. In the proposal, the working fluid is ionized with periodical pulsed discharges and the resulting neutral plasma is unbalanced by means of an intense DC electrical field. The gas is thus split into two charged streams, which induce an electromotive force into a magnetically coupled coil. The resulting generator layout does not require the use of superconducting coils and allows you to manage the issues related to the conductivity of the gas and the corrosion of the electrodes, which are typical limits of the MHD generators. A tailored multi-objective optimization algorithm, based on the Tabu Search meta-heuristics, has been implemented, which returns a set of Pareto optimal solutions from which it is possible to choose the optimal solution according to further applicative or performance constraints.