The actuator is a primary component of the fast-steering mirror (FSM), and its quality directly determines the performance of FSM. To achieve high compactness, high efficiency, large output torque, and effective linearity, a hybrid reluctance actuator (NHRA) for FSM was designed. To obtain a high-force density and small flux leakage, four permanent magnets (PMs) were designed on the side of the armature, which improves the linearity of the actuator by generating a bias flux. Meanwhile, to obtain the maximum output torque for a limited size, the structural model of the actuator was established in ANSYS Maxwell, and all structural parameters were optimized. In addition, an analytical model of the actuator was established via the equivalent magnetic circuit method. To improve the modeling accuracy, both PM and coil flux leakages were considered. The theoretical and simulation results were insignificant in agreement, and both showed the output torque of this actuator to be approximately twice that of a state-of-the-art actuator under the same volume, simultaneously improving the linearity.