Methods are described for near optimal Antenna and/or sensor selection via population-based probabilistic evolutionary algorithms such as estimation of distribution algorithm (EDA) and bio-inspired Optimization (BIO). The aspects of the invention includes a method for joint transmit and receive antenna selection using EDA; and an enhanced EDA, which uses cyclic shift register and biased estimation of distribution; and methods for joint transmit and receive antenna selection using improved population-based optimization. The proposed EDA-based and bio-inspired selection methods results in performances that are close to the ESA (exhaustive search algorithm) and yet impose mush less computational burden than ESA. Another advantage of our methods is that they can be easily implemented on parallel processors.