Passive negative stiffness dampers (NSDs) possess significant advantages and promising application prospects in the field of structural vibration control. NSDs with high energy dissipation capability are desired to satisfy the vibration mitigation requirements for large-scale engineering structures, such as high-rise buildings and long-span bridges. However, in practical applications, due to the constraints of mounting space and additional weight, the negative stiffness and damping coefficient of existing NSDs are generally not very large and with poor adjustability. To overcome these limitations, this study develops a novel magnetic negative stiffness eddy-current damper (MNSECD) with enhanced overall performance. This damper consists of a magnetic negative stiffness system (MNSS), a multi-layer-plate-type eddy-current damping system (ECDS) in parallel, and a bidirectional ball screw transmission system. Firstly, different magnetic arrays are designed to optimize the magnetic fields of the MNSECD, and to enhance its magnetic negative stiffness and eddy-current damping without adding extra dimensions and weight. Subsequently, the electromagnetic finite-element models (FEMs) of the MNSECD are established to precisely simulate its magnetic negative stiffness and eddy-current damping forces, and these models are further utilized to elucidate the enhancement mechanism of different magnetic arrays. Finally, based on the numerical simulation results, the best performing magnetic array is selected respectively for the ECDS and MNSS systems to carry out experimental studies on a small-scale prototype. Numerical and experimental results indicate that the selected magnetic array for the MNSS proves highly effective in enhancing the magnetic negative stiffness of the MNSECD, while the selected magnetic array for the ECDS also demonstrates superior effectiveness in enhancing the eddy-current damping of the damper. These findings suggest that the novel MNSECD can be readily used in the vibration control of large-scale engineering structures.