In this research paper, we introduce a novel classification method aimed at improving the performance of the K-Nearest Neighbors (KNN) algorithm. Our approach leverages Mutual Information (MI) to enhance the significance of weights and draw inspiration from Shapley values, a concept originating from cooperative game theory, to refine value allocation. The fundamental concept underlying KNN is the classification of samples based on the majority thorough their k-nearest neighbors. While both the distances and labels of these neighbors are crucial, traditional KNN assigns equal weight to all samples and prevance considering the varying importance of each neighbor based on their distances and labels. In the proposed method, known as Information-Modified KNN (IMKNN), we address this issue by introducing a straightforward algorithm. To evaluate the effectiveness of our approach, it is compared with 7 contemporary variants of KNN, as well as the traditional KNN. Each of these variants exhibits its unique advantages and limitations. We conduct experiments on 12 widely-used datasets, assessing the methods' performance in terms of accuracy, precision and recall. Our study demonstrates that IMKNN consistently outperforms other methods across different datasets and criteria by highlighting its superior performance in various classification tasks. These findings underscore the potential of IMKNN as a valuable tool for enhancing the capabilities of the KNN algorithm in diverse applications.