The MAGIC telescope has been designed for the observation of Cherenkov light generated in Extensive Air Showers initiated by cosmic particles. However, its 17m diameter mirror and optical design makes the telescope suitable for direct optical observations as well. In this paper, we report about the development of a system based on the use of a dedicated photo-multiplier (PMT) for optical observations. This PMT is installed in the centre of the MAGIC camera (the so-called central pixel). An electro-to-optical system has been developed in order to transmit the PMT output signal by an optical fibre to the counting room, where it is digitized and stored for off-line analysis. The performance of the system using the optical pulsation of the Crab nebula as calibration source is presented. The time required for a 5σ detection of the Crab pulsar in the optical band is less than 20s. The central pixel will be mainly used to perform simultaneous observations of the Crab pulsar both in the optical and γ-ray regimes. It will also allow for periodic testing of the precision of the MAGIC timing system using the Crab rotational optical pulses as a very precise timing reference.