A multi-objective optimal phasor measurement unit placement model using integer linear programming is presented in this article. The proposed model simultaneously optimizes two objectives, i.e., minimization of phasor measurement unit numbers and maximization of measurement redundancy. To calculate the redundancy criteria, the single-line outage and the phasor measurement unit loss are considered simultaneously. A linear formulation is presented for both objective functions. Also herein, to address conflicting attributes and identify Pareto optimal solutions of the multi-objective optimal phasor measurement unit placement problem, a new multi-objective mathematical programming method is proposed. Finally, a new index, i.e., minimum distance to utopia point, is implemented to select the most preferred solution among the available Pareto front based options on the goal to achieve judicious decision makers. Two test systems, i.e., a modified 9-bus and an IEEE 118-bus test systems, are used to illustrate the effectiveness of the proposed framework.