Due to the distinctive working environment of high precision machining and manufacturing field, it poses challenges in meeting the isolation requirements, including limited installation space, multi-dimensional vibration, and a wide range of vibration frequencies. To tackle these obstacles, this paper introduces a magnetorheological (MR) isolator that offers adjustable vertical damping characteristics while guaranteeing three-axis vibration isolation through an inclined cone structure. First, the structure of the isolator was designed by combining a flow valve damper with a conical rubber structure. Second, in pursuit of lightweight design and enhanced magnetic field strength, collaborative simulations using ANSYS and Maxwell are conducted to subject the critical components of the isolator to multi-objective optimization. The optimization results demonstrate that the mass of the isolator has been reduced by approximately 27.7%, while the magnetic field intensity has increased by around 20%. Finally, the performance of the MR isolator was verified through static testing and dynamic testing, respectively. The experimental results demonstrate that the isolator can generate a maximum damping force of approximately 778[Formula: see text]N when exposed to a current of 1.5[Formula: see text]A. Compared to the initial value of 445.06[Formula: see text]N at 0[Formula: see text]A, there has been an approximate increase of 1.74 times.