The goal of the study was to investigate the feasibility of a novel miniaturized optical system for endoscopy. Fostering the mechanical compensation paradigm, the modeled optical system, composed by 14 lenses, separated in 4 different sets, had a total length of 15.55mm, an effective focal length ranging from 1.5 to 4.5mm with a zoom factor of about 2.8×, and an angular field of view up to 56°. Predicted maximum lens travel was less than 3.5mm. The consistency of the image plane height across the magnification range testified the zoom capability. The maximum predicted achromatic astigmatism, transverse spherical aberration, longitudinal spherical aberration and relative distortion were less than or equal to 25μm, 15μm, 35μm and 12%, respectively. Tests on tolerances showed that the manufacturing and opto-mechanics mounting are critical as little deviations from design dramatically decrease the optical performances. However, recent micro-fabrication technology can guarantee tolerances close to nominal design. A closed-loop actuation unit, devoted to move the zoom and the focus lens sets, was implemented adopting miniaturized squiggle piezo-motors and magnetic position encoders based on Hall effect. Performance results, using a prototypical test board, showed a positioning accuracy of less than 5μm along a lens travel path of 4.0mm, which was in agreement with the lens set motion features predicted by the analysis. In conclusion, this study demonstrated the feasibility of the optical design and the viability of the actuation approach while tolerances must be carefully taken into account.