Due to the combined advantages of no-contact friction and self-stable levitation, high temperature superconducting magnetic levitation (HTS Maglev) has significant potential for rail transit applications. In order to further improve the carrying capacity of the HTS maglev system, it is necessary to optimize the permanent magnet guideway (PMG). In this paper, the original Halbach PMG was optimized and a new PMG with better performance was designed and manufactured. The magnetic field and magnetic forces were calculated by the finite element method, and the size and magnetization direction of each PM in the PMG were optimized. Then, the magnetic field above the optimized PMG were measured and compared with the original Halbach PMG as well as the levitation and guidance force of the bulk high temperature superconductors. Experimental data show that the magnetic field above the optimized PMG is effectively enhanced and the levitation and guidance force of the superconductors increase by 12.2% and 11.3%, respectively. This study can provide the foundation for the further optimization of PMGs and the research of large load HTS Maglev technology.