To increase the output displacement of the linear piezoelectric actuator, a linear piezoelectric actuator with large displacement and three operation modes is proposed. The operating principle of the piezoelectric actuator is presented. The magnification factor of the displacement amplification mechanism is deduced and verified by finite element analysis. To improve the output precision of the actuator, a feedforward PID control model is established. Based on the experimental test platform, the output characteristics of the piezoelectric actuator are tested. Results show the maximum output displacement of the piezoelectric actuator is 558.3 μm under a driving voltage of 150 V with two piezoelectric stacks. When the driving frequencies are less than 3 Hz, the control accuracy of feedforward PID is higher than that of PID, and the error between the measured displacement and the ideal value is less than 10% after applying the control to the piezoelectric actuator.