This paper presents the design and performance evaluation of a multi-disc magnetorheological fluid (MRF)-based brake (MRB) for A00-class minicars. The braking performance of the MRB is studied by means of theoretical analysis and experimental verification. Firstly, the MRB is designed according to the shear model of the MRF, and the structure optimization is carried subsequently. Secondly, multi-physical simulations of the MRB are conducted to investigate the transient temperature field, thermal stress and thermal strain distribution of the MRB under different braking models; Finally, a performance evaluating testbed is built to experimentally assess the braking performance of the MRB. The results indicate that the theoretical braking torque of the MRB fulfills the target value. The thermal strain-induced deformation of the disc is minimal and has a negligible effect on the torque output. In addition, the MRB is experimentally validated to exhibit excellent braking performance in terms of sufficient torque output capacity, rapid response, low temperature rise characteristic, as well as favorable velocity following property.