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In the long-hole stage open stoping with subsequent backfill mining of underground metal mines, the selection or optimization of stope dimension parameters is significant for safe and economic mining operations. To analyze the optimal stope sizes, the Mathews empirical graph method and FLAC3D numerical method can be used, but the analyzed safety results of the two methods are generally independent from each other. More importantly, economic indicators including production capacity and mining costs should be considered simultaneously to optimize the stope dimension which was mostly ignored in previous reports. In this paper, a new CRITIC-GRA model was proposed for the first time to build up a multi-factor quantitative optimization for stope dimension, which allows for a comprehensive analysis with preset influential safety and economic indicators. The indicators considered include the safety indicators such as stability probability for the side walls and roof of the open stope via the updated Mathews graph method, maximum displacement, plastic zones volume and maximum principal stress via FLAC3D simulations, as well as economic indicators such as mining costs and stope production capacity in mine operations. The model was then illustrated in an underground iron mine. With the given rockmass quality in the mine, the overall stability of the open stope can be improved instead of reduced to enlarge the single stage stope height (60 m) to a double stage height (120 m) by reducing the stope width from 20 m to 15 m, thereby significantly increasing the mineable ore amount and improving the stope safety. An integrated evaluation of open stope stability, mining capacity and costs objectively determined that scheme No. 10, with a slope length of 50 m, a width of 15 m and a height of 120 m, was the optimum out of the 20 preset schemes. The new CRITIC-GRA model offers a dependable reference tool for determining the optimal stope dimensions in similar underground mines. [ABSTRACT FROM AUTHOR]