This paper reports on mechanical design, optimization, and experimental testing of a novel piezo-actuated elliptical vibration-assisted cutting (EVC) system constructed by flexure hinges. The stroke and natural frequency were analyzed based on the theoretical modeling. An enhanced central composite design was chosen as the design of experiments methodology to reduce the modeling error, and a nondominated sorted genetic algorithm-II (NSGA-II) was adopted for structure optimization. The optimized EVC generator was manufactured and experimentally tested to investigate practical properties of the proposed EVC system. It shows that the stroke of input end can reach to 30 μm with a motion resolution of 10 nm, and the first natural frequency can reach to 2600 Hz without considering the manufacturing error. Besides, a relatively small cross-axis coupling ratio (within 0.21%) can be effectively obtained. The developed EVC system is advantageous not only to being equipped with machine tools with various configurations, but also to easily achieving arbitrary vibrations in three-dimensional space through two actuators, which is especially important for the generation of complex structured surfaces. With this paper, it is of great significance to promote industrial application of EVC techniques.