Generation maintenance scheduling (GMS) is one of the most important scheduling problems in the restructured power systems. The maintenance time interval of generation units is the crucial factor of GMS for an operation lifespan of generation units, particularly within the smart grid which needs high reliability. Accordingly, this study proposes a multi-objective-GMS (MO-GMS) optimisation model for maintenance scheduling of generation units based on the global criterion approach, adopting a suitable compromise function. The proposed MO-GMS model determines the maintenance intervals, aims to maximise both the generation company's (GenCo's) financial returns from selling electricity and the system reserve at every time interval from the independent system operator (ISO) standpoint. This method searches the optimal maintenance weeks for each generation unit, considering the objectives of both GenCo and ISO, simultaneously. The proposed MO-GMS model is formulated as a mixed-integer non-linear programming problem and examined on the IEEE 24-bus and IEEE 118-bus test systems. The success of the proposed multi-objective model is validated by comparing the obtained results with intelligent optimisation algorithms. Nomenclature Sets W total number of weeks in a year G total number of generation units H w total hours of a week Indices w index of weeks g index of generation units Variables and parameters OF SR objective function of system reserve OF GU objective function of generation units R w system reserve in week w r g, w system reserve of gth generation unit in week w L w predicted load of week w δ g, w binary indicator of unit g in week w p g max capacity of unit g (MW) p g, w generated power of unit g in week w (MW) π g, w total annualised revenue of unit g in week w ($) F g, w (p g, w) generation cost of unit g in week w ($/h) MC g maintenance cost of generation unit g ($) EP w energy price in week w ($/MWh) FC g M fixed maintenance cost of generation unit g ($/kW/ year) VC g M variable maintenance cost of generation unit g ($/ MWh) m g, w power of generation unit g in week w in maintenance period (MW) M w total power of generation units in maintenance period in week w (MW) D g maintenance duration of generation unit g I g, w on/off state of unit g in week w MO objective of multi-objective optimisation 204