In this study, a novel vibration isolator is developed. The developed isolator possesses the characteristics of high-static–low-dynamic stiffness (HSLDS) and can act passively or semi-actively. The HSLDS property of the isolator is obtained by connecting a mechanical spring, in parallel with a magnetic spring that is constructed by a pair of electromagnets and a permanent magnet. The mechanical spring is a structural beam whose stiffness exhibits a hardening behavior. The stiffness of the magnetic spring can be positive or negative, depending on the polarity of the current to the electromagnets. A passive HSLDS isolator is obtained when the electromagnet current is zero. In the stiffness characterization study, the analytical model for each of the springs is established and the tuning parameters are identified. Using the stiffness models, the design optimization issues are investigated. In the experimental study, the effectiveness of the isolator for vibration isolation is tested. The analytical natural frequencies of the isolator are validated experimentally. The relationships between the displacement transmissibility and the exciting frequency are measured both under the passive mode and under the semi-active mode. The on-line tuning capability of the isolator is investigated.