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Classical query optimization compares query plans according to one cost metric and associates each plan with a constant cost value. In this paper, we introduce the Multi-Objective Parametric Query Optimization (MPQ) problem where query plans are compared according to multiple cost metrics and the cost of a given plan according to a given metric is modeled as a function that depends on multiple parameters. The cost metrics may for instance include execution time or monetary fees; a parameter may represent the selectivity of a query predicate that is unspecified at optimization time. MPQ generalizes parametric query optimization (which allows multiple parameters but only one cost metric) and multi-objective query optimization (which allows multiple cost metrics but no parameters). We formally analyze the novel MPQ problem and show why existing algorithms are inapplicable. We present a generic algorithm for MPQ and a specialized version for MPQ with piecewise-linear plan cost functions. We prove that both algorithms find all relevant query plans and experimentally evaluate the performance of our second algorithm in a Cloud computing scenario.