In the present work, the data assimilation problem in meteorology and physical oceanography is re-examined using the variational optimal control approaches in combination with regularization techniques in inverse problem. Here the estimations of the initial condition, boundary condition and model parameters are performed simultaneously in the framework of variational data assimilation. To overcome the difficulty of ill-posedness, especially for the model parameters distributed in space and time, an additional term is added into the cost functional as a stabilized functional. Numerical experiments show that even with noisy observations the initial conditions and model parameters are recovered to an acceptable degree of accuracy.