Aiming at the optimization of cutting parameters, the Fibonacci tree optimization(FTO) algorithm based on the Fibonacci optimization principle and golden section method is proposed by taking minimal production cost as goal. Global search and local optimization are alternately executed to make sure the global optimal solution converge rapidly, avoiding obtaining partial optimal solutions only. The distance parameter is set to retain multiple valuable global optimal solutions and partial optimal solutions, which can provide a multiple global optimal scheme at one time. Test results of eight typical multimodal functions show that the FTO algorithm has strong ability of global optimization and high accuracy. Cutting parameters are optimized using the FTO algorithm. Simulation results show that the proposed algorithm can provide a plurality of optimal results of cutting parameters that meet the multi-constrain. Multi-scheme optimization can provide multiple optimal solution of minimum production cost at one time and optimum combination of cutting parameter values, and it has great real meaning to apply the multi-scheme optimization to engineering optimization problem.