As the rapid progress of science and technology, the free-form surface optical component has played an important role in spaceflight, aviation, national defense, and other areas of the technology. While the technology of fast tool servo (FTS) is the most promising method for the machining of free-form surface optical component. However, the shortcomings of short-stroke of fast tool servo device have constrained the development of free-form surface optical component. To address this problem, a new large-stroke flexible FTS device is proposed in this paper. A series of mechanism modeling and optimal designs are carried out via compliance matrix theory, pseudo-rigid body theory, and Particle Swarm Optimization (PSO) algorithm, respectively. The mechanism performance of the large-stroke FTS device is verified by the Finite Element Analysis (FEA) method. For this study, a piezoelectric (PZT) actuator P-840.60 that can travel to 90 µm under open-loop control is employed, the results of experiment indicate that the maximum of output displacement can achieve 258.3µm, and the bandwidth can achieve around 316.84 Hz. Both theoretical analysis and the test results of prototype uniformly verify that the presented FTS device can meet the demand of the actual microstructure processing.