This study was performed to improve the drying quality and drying rate of ginseng slices by combining microwave and far-infrared drying techniques. Methods: Based on single-factor experiments and analyses, a quadratic regression orthogonal rotation combination design was adopted to study the effects of the moisture content at the conversion point between the microwave and far-infrared techniques, the ginseng slice thickness and the far-infrared drying temperature on the chip drying time, the surface color difference value, the nutritional composition and the surface shrinkage rate index. Results: Compared to the far-infrared drying alone, the combined microwave and far-infrared drying resulted in an increase in the saponin content of the ginseng slices and reductions in the drying time, surface color difference, and shrinkage rate. Conclusions: We established a mathematical model of the relationships between the surface shrinkage rate index and the experimental factors using the multi-objective nonlinear optimization method to determine the optimal parameter combination, which was confirmed to be the following: microwave and far-infrared moisture contents of 65%, a ginseng slice thickness of 1 mm, and a far-infrared drying temperature of 54 C.