Astrophysics and cosmology in the coming decades urgently need a large field-of-view (FOV), highly multiplexed spectroscopic survey telescope satisfying challenging image quality and stability requirements. The 6.5m MUltiplexed Survey Telescope (MUST) proposed by Tsinghua University will be constructed on the Saishiteng Mountain of Northwest China to improve the spectroscopic survey capability of ground-based optical telescopes. In this paper, we demonstrate the conceptual design of the optical system of MUST. MUST will adopt a 6.5m primary mirror, a 2.45m secondary mirror, and a multiple-element widefield corrector (WFC) to ensure excellent image quality with an 80% encircled energy size of image spots less than ~ 0.6 arcsec in diameter for the entire 3° FOV and the whole 50° zenith angle range. Thanks to its compact 6.5m Ritchey-Chretien system and 20000 optical fibers on its Cassegrain focus, MUST will carry out state-of-the-art wide-field spectroscopic surveys with efficiency ~ 19 times higher than the Dark Energy Spectroscopic Instrument (DESI) using a measure proposed by Ellis et al. Upon completion around 2029, MUST will be one of the world's largest and most advanced wide-field spectroscopic survey telescopes and a new essential reference for the future development of wide-field survey telescopes. It will enable significant advances in many fields in astrophysics and cosmology.