To install high-performance isolators in a limited installation space, a novel passive isolator based on the four-parameter Zener model is proposed. The proposed isolator consists of three major parts, namely, connecting structure, sealing construction, and upper and lower cavities, all of which are enclosed by four segments of metal bellows with the same diameter. The equivalent stiffness and damping model of the isolator are derived from the dynamic stiffness of the isolation system. Experiments are conducted, and the experiment error is analyzed. Test results verify the validity of the model. Theoretical analysis and numerical simulation reveal that the stiffness and damping of the isolator have multiple properties with different exciting amplitudes and structural parameters. In consideration of the design of the structural parameter, the effects of exciting amplitude, damp channel diameter, equivalent cylinder diameter of cavities, sum of the stiffness of the bellows at the end of the isolator, and length of damp channel on the dynamic properties of the isolator are discussed comprehensively. A design method based on the parameter sensitivity of the isolator’s design parameter is proposed. Thus, the novel isolator can be practically applied to engineering and provide a significant contribution in the field.