The high-speed pneumatic on/off valve is one of the critical components in pneumatic systems, which has been widely investigated in the last decades. In this research, a new voice coil motor direct drive high-speed pneumatic on/off valve (VCM-DHPV) is proposed, and the mathematical model of VCM-DHPV, which consists of the fluid subsystem and electro-mechanical subsystem, is established. In addition, the key structural parameters of VCM-DHPV are optimized through the simulation analysis to improve its dynamic performance. The experiment results show that the developed VCM-DHPV has a good sealing performance by adopting the face-seal type in the valve port, and a large flow rate up to 5500 L/min, and its opening response time is 8.2 ms under the gas supply pressure of 8 MPa and exiting voltage of 240 V. With the supply pressure and the exciting voltage rising, the opening response time of VCM-DHPV is gradually increasing, and the variation tendency of the spool displacement curves is in accordance with the simulation results. This research will have significantly effects on raising the performance of the high-speed pneumatic on/off valve and the development of pneumatic precision motion control.