The continuous casting process is a continuous, complex phase transition process. The noise components of the continuous casting process are complex, the model is difficult to establish, and it is difficult to separate the noise and clear signals effectively. Owing to these demerits, a hybrid algorithm combining Variational Mode Decomposition (VMD) and Wavelet Threshold denoising (WTD) is proposed, which involves multiscale resolution and adaptive features. First of all, the original signal is decomposed into several Intrinsic Mode Functions (IMFs) by Empirical Mode Decomposition (EMD), and the model parameter K of the VMD is obtained by analyzing the EMD results. Then, the original signal is decomposed by VMD based on the number of IMFs K, and the Mutual Information Entropy (MIE) between IMFs is calculated to identify the noise dominant component and the information dominant component. Next, the noise dominant component is denoised by WTD. Finally, the denoised noise dominant component and all information dominant components are reconstructed to obtain the denoised signal. In this paper, a comprehensive comparative analysis of EMD, Ensemble Empirical Mode Decomposition (EEMD), Complementary Empirical Mode Decomposition (CEEMD), EMD-WTD, Empirical Wavelet Transform (EWT), WTD, VMD, and VMD-WTD is carried out, and the denoising performance of the various methods is evaluated from four perspectives. The experimental results show that the hybrid algorithm proposed in this paper has a better denoising effect than traditional methods and can effectively separate noise and clear signals. The proposed denoising algorithm is shown to be able to effectively recognize different cast speeds.