This study investigated the role of multi-layer lever type flexure hinges for high magnification of piezoelectric actuators and their optimal design. In order to obtain a displacement higher than 700 μm with a common PZT actuator of displacement less than 15 μm, the magnification ratio of a flexure hinge must be at least 50 or higher. Under a limited compact space, a multi-layer lever structure represents a useful alternative. Restricting the important design parameters to the number of layers and rotational stiffness of notch, the maximum required input displacement/force and the maximum output displacement were analyzed according to the number of layers. The two-layer structure was selected as the best option for large magnification ratio because the required input displacement was drastically reduced. FEM analysis revealed that the lever thickness should be larger than 12 mm to exhibit a rigid body behavior. The output displacement was 664 μm, which was less than 704 μm expected in the design stage. It might be attributed to elastic deformation of the notches of 1st and 2nd layers, which was not considered in the design stage.