This paper develops a moving-magnet electromagnetic actuator for fast steering mirror (FSM). The actuator achieves a reasonable compromise between voice coil actuator and piezoelectric actuator. The stroke of the actuator is between the strokes of a piezoelectric actuator and a voice coil actuator, and its force output is a linear function of air gap and excitation current within our FSM travel range. Additionally, the actuator is more reliable than voice coil actuator as the electrical connection in the actuator is static. Analytically modeling the actuator is difficult and time-consuming. Alternatively, numerous finite element simulations are carried out for the actuator analysis and design. According to the design results, a real prototype of the actuator is fabricated. An experimental test system is then built. Using the test system, the force output of the fabricated actuator is evaluated. The test results validate the actuator analysis and design.