The availability of a periodic inspection system under mixed maintenance policies is studied in this paper. To accommodate the characteristic of multiple failure modes for complex systems, the system failures can be divided into two failure modes: hard failure and soft failure. When hard failure occurs, the corresponding corrective maintenance will be performed, taking a random time under the perfect maintenance policy; in contrast, if the soft failure is found, the corresponding preventive maintenance will be performed, taking a random time under the imperfect maintenance policy. The dynamic age setback model is adopted for imperfect maintenance, which can accurately reflect the fault characteristics of the degraded system. Then an analytical model for system steady state availability and instantaneous availability are derived. Moreover, the optimal method to maximize the system steady-state availability through adjusting the inspection interval is researched. According to the above research, the optimization of system unit time cost, preventive maintenance intervals and availability is researched. Finally, the developed approach is demonstrated by a numerical example.