Vibration is one of the most dangerous phenomena that happens to a structure. It leads to premature fatigue and eventually failure, with potentially fatal consequences. A smart structure is an excellent solution to this problem; it adds an actuator, a sensor, and an appropriate control law to the system to reduce/eliminate the vibration. This study developed a complete analytical model for a cantilever beam with a collocated PZT sensor/actuator pair. First, we used a coupling of a collocated PZT sensor and an actuator to measure and control vibration levels based on a PID control law considering the physical constraints associated with PZT operation as the voltage level of the actuator. Next, the damping coefficient of the structure was determined by using genetic algorithms best fit to satisfy specific vibration conditions. Finally, we conducted a complete optimization for sensor/actuator position and PID parameters, using genetic algorithms. Thus, this paper gives a thorough understanding of the potential vibration control of the cantilever beam.