A novel mono-stable permanent magnet actuator (PMA) for high voltage vacuum circuit breaker (VCB) and its optimal design method are proposed in this paper. The proposed PMA is featured with a structure of separated magnetic circuits, which makes the holding part and closing driving part work independently without interference. The application of an auxiliary breaking coil decreases the response time in the initial phase of opening operation, and an external disc spring is adopted to accelerate the opening movement, which makes the PMA meet the fast-breaking requirement of high voltage VCB. As calculating the characteristics of the PMA accurately through numerical simulation is a time-consuming process, a multi-objective optimization (MOO) algorithm based on surrogate modeling technique and adaptive samples adding strategy are proposed to reduce the workload of numerical simulations during optimization. Firstly, initial surrogate models are constructed and evaluated, and then iteratively updated to improve their global approximating abilities. Secondly, according to the approximate MOO results obtained by the global surrogate models, additional samples are added to constantly update the surrogate models to gradually improve the models’ local accuracies in optimal solution regions and finally guide the algorithm to the true Pareto front. The efficiency and accuracy of the proposed algorithm are verified by test functions. By applying the optimization strategy to the design of the proposed PMA, a set of satisfying Pareto optimal solutions, which improve the overall performance of the PMA obviously, can be derived at a reasonable computation cost.