The purpose of the present work was to design, optimize, and test an innovative suspension system for race cars. The study was based on a comprehensive approach that involved conceptual design, modeling, simulation and optimization, and development and testing of the experimental model of the proposed suspension system. The optimization process was approached through multi-objective optimal design techniques, based on design of experiments (DOE) investigation strategies and regression models. At the same time, a synthesis method based on the least squares approach was developed and integrated in the optimal design algorithm. The design in the virtual environment was achieved by using the multi-body systems (MBS) software package ADAMS, more precisely ADAMS/View—for modeling and simulation, and ADAMS/Insight—for multi-objective optimization. The physical prototype of proposed suspension system was implemented and tested with the help of BlueStreamline, the Formula Student race car of the Transilvania University of Brașov. The dynamic behavior of the prototype was evaluated by specific experimental tests, similar to those the single seater would have to pass through in the competitions. Both the virtual and experimental results proved the performance of the proposed suspension system, as well as the usefulness of the design algorithm by which the novel suspension was developed.