With the development of information and communication technology, the traditional power system is undergoing the transition to a multi-dimensional heterogeneous complex system, which is known as the cyber-physical power system (CPPS). With the aid of real-time sensing, communication network and dynamic control technology in the cyber system, the efficiency and effectiveness of the physical power system is greatly improved. However, the coupling mechanism between the cyber system and the power system could lead to cascading failure among the two sub-systems. In this paper, the CPPS multi-objective planning algorithm based on NSGA-II is proposed to solve the cascading failure problem from the view of the power system design. First, the CPPS multi-objective planning model framework is proposed. Next, the economic objective and the reliability objective in the CPPS is discussed in detail. Then, the advantages of the NSGA-II algorithm are discussed, and the algorithm is applied to solve this problem. Finally, a test case is utilized to show the validity of the proposed method.