Glass fiber-reinforced polymer (GFRP) composites have gained widespread application in aerospace, automotive, and marine industries due to their superior mechanical properties. However, drilling-induced delamination remains a critical challenge that compromises structural integrity and assembly reliability. Among the two primary delamination modes (peel-up at the entry and push-out at the exit), push-out delamination is typically more severe and governs the structural performance of drilled components; therefore, this study focuses on exit-side delamination. This study investigates the influence of drilling parameters—spindle speed (500–1000 rpm), feed rate (0.05–0.2 mm/rev), and drill point angle (90°–130°)—on thrust force, torque, and delamination factor during GFRP machining. Experimental tests were conducted using HSS-Co 5% drills on 2.2 mm thick laminates fabricated via room-temperature consolidation, with force and torque data acquired using a Kistler 9255B dynamometer. Delamination was quantitatively assessed through digital image processing based on the ratio of damaged area to nominal hole area. Analysis of variance (ANOVA) confirmed the statistical significance of the developed regression models (Adjusted R² > 0.90). Results revealed that feed rate exerts the most dominant influence on all response variables, while spindle speed demonstrates a nonlinear effect on force and torque but consistently reduces delamination at higher values. Increasing drill point angle effectively minimizes torque but exhibits marginal influence on thrust force and delamination. Multi-response optimization yielded an optimal drilling condition of 110° point angle, 720 rpm spindle speed, and 0.05 mm/rev feed rate, balancing minimal machining forces with suppressed delamination. The findings provide practical guidelines for enhancing hole quality in GFRP components and contribute to the development of damage-free drilling strategies for advanced composite structures.