The diesel multiple unit (DMU) has been widely used in high-speed railway service due to its flexibility and economy. Considering the broadband and complex vibration generated by DMU power package, the advanced semi-active suspension with magnetorheological (MR) dampers is introduced to promote anti-vibration performance. In this work, a comprehensive optimal design approach for MR damper used in DMU power package is proposed. Quasi-static modeling process is conducted to obtain MR damper's low-frequency outputs, while its high-frequency damping forces are calculated by physical modeling considering the fluid compressibility and piston assembly inertia. Then the objective functions and optimization variables are determined. Based on response surface and linear correlation analysis, the influence of the optimal variables on the objective functions is discussed. Using reference-point based nondominated sorting approach (NSGA-III), the evolutionary many-objective optimization is conducted. In addition, magnetic design is incorporated into the optimal process to ensure the magnetic flux density in the effective working area. Finally, an optimized MR damper prototype is manufactured and tested. By comparing the experimental damping force with calculated results in both low-frequency and high-frequency ranges, the effectiveness of the presented optimal method for MR dampers is validated.