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In this paper, a multiobjective root system growth algorithm-based p-optimality (p-MORSGA) is proposed. The proposed p-MORSGA extended original root system growth algorithm with multiobjective nondomination strategy. To enhance its effect of convergence of solution groups, the p-optimality criterion is employed to determine the solutions of last nondominated front into the next generation group. In the evolution process, global general (GG), concerning the margin information and population density, is selected as the suitable optimality criterion of evaluating the performance of solutions. Application of the new p-MORSGA on several multiobjective benchmark functions shows a marked improvement in performance over the modified classical MOEAs with such criterion. Finally, the proposed p-MORSGA is applied to solve two real-world problems, multiobjective portfolio optimization problems (MOPOPs) and multiobjective optimal power flow (OPF) problems. The experimental results demonstrate that p-MORSGA is extremely effective for real-world application problems. [ABSTRACT FROM AUTHOR]