Given the geometric nonlinearity of the piezoelectric cantilever beam, this study establishes a distributed parameter model of the nonlinear bi-stable cantilever piezoelectric energy harvester, following the generalized Hamilton variational principle. The analytical expressions of the dynamic response were obtained for the energy harvesting system using Galerkin modal decomposition and the multi-scale method. The investigation focuses on how the performance of the energy harvesting system is influenced by the gap distance between magnets, external excited amplitude, mechanical damping ratio and external load resistance. The calculation results were compared with those obtained neglecting the geometric nonlinearity of the beam. The results show that the system responses contain jump and multiple solutions. The consideration of the geometrical nonlinearity significantly amplified the peak displacement and peak output power of the intra-well and inter-well motions. There is an evident hardening effect of the inter-well motion frequency response curve. By reasonable adjusting the parameters, it is possible to improve the output power of the piezoelectric energy harvesting system and broaden the operating frequency of the system.