This paper aims to propose a multi-objective topology optimization methodology for steel wheel, in which both the compliance and eigenfrequencies are regarded as static and dynamic optimization objectives. Compromise programming method is employed to define the objectives of multi-objective and multi-stiffness topology optimizations, whereas mean-frequency formulation is adopted to settle eigenfrequencies of free vibration optimization. To obtain a clear and useful topology optimization result, cyclical symmetry and manufacturing constraints are set, the influences of which on the outcomes are also discussed. With an appropriate value of the minimum member size, a rough topology optimization of the steel wheel is obtained. The optimization result is modified according to the actual structure and manufacturing process. Moreover, based on this result, eight different steel wheel modes are established to analyze the influence of the manufacturing process and draw beads on the wheel performance through finite element simulation. Simulation results are verified by conducting a stress test of a commercially available wheel. Compared with its initial design, the optimized wheel disc exhibited decreased mass at 0.15 Kg at percentage of 4.57%, manifesting the effectiveness of the proposed method.