In this study, the process of ligating blood vessels via biodegradable Mg alloy hemostatic clips with toothless, transverse teeth, and embedded teeth was simulated through finite element analysis (FEA). The results showed that the transverse tooth clip caused the minimum stress (0.81489 MPa) to blood vessels. Furthermore, the effects of clips with transverse teeth of different parameters, including lower tooth length, tooth height, and tooth pitch, on clamped blood vessels were studied. The numerical simulation results showed that the three optimal parameters for clips with transverse teeth were 0.2, 0.1, and 0.1 mm, respectively. Then, the optimally designed clip based on the Mg–Nd–Zn–Zr alloy was manufactured and evaluated using immersion tests. Results from the corrosion behavior study showed that closed clips (0.118 ± 0.041 mg·cm⁻²·day⁻¹) corroded slightly faster than open clips (0.094 ± 0.041 mg·cm⁻²·day⁻¹). Moreover, micromorphological observations showed that no cracks appeared on the closed clips, indicating that the Mg alloy had excellent performance and avoided stress corrosion cracking (SCC). Thus, the new type of Mg alloy clip kept good blood vessel closure during FEA and exhibited no corrosion cracking during the degradation process, making it a promising candidate for applications with biodegradable hemostatic clips.