The vehicle-mounted equipment is easy to be disturbed by external vibration excitations during transportation, which is harmful to the measurement accuracy and performance of the equipment. Aiming at the vibration isolation of the vehicle-mounted equipment, a semiactively controlled quasi-zero stiffness (QZS) vibration isolator with positive and negative stiffness is proposed. The vertical spring is paralleled with a magnetorheological (MR) damper, and the semiactive on-off control scheme is adopted to control the vibration. The analytical expression of the isolator’s displacement transmissibility is derived via the averaging method. Then, the vibration isolation performance under different road excitations and different driving speeds is simulated and compared with the uncontrolled passive QZS vibration isolator. In addition, the mechanical structure of the semiactive QZS isolator is designed and manufactured, and the test system is built by LabVIEW software and PXI embedded system. The isolation effect of the semiactive QZS isolator is verified through test data. It is found that the proposed semiactive QZS isolator shows excellent vibration isolation performance under various road excitations, while the passive QZS isolator is effective only under harmonic excitations. The vertical acceleration of vehicle-mounted device can be decreased over 70% after isolation, and the vibration isolation effect is remarkable. The design idea and research results of the semiactive QZS isolator may provide theoretical guidance and engineering reference for vibration isolation.