A double-excitation ultrasonic elliptical vibration grinding (UEVG) device was designed and optimized by using the multigoal driven optimization method based on ANSYS Workbench. Based on the equivalent circuit method, a halfwavelength transducer with the front cover of a λ/4 composite horn was designed. The parametric models of the horns with an object stage and the UEVG device were in turn established for the modal and harmonic response analyses. Based on the analysis of modal analysis of 10 design points, the optimal size of the horn was determined. On this basis, the relationship among the resonance frequency, nodal location and structure size of UEVG device was obtained through the simulation analysis of 42 design points, and the size was optimized. The error between the resonant frequency of the optimized UEVG device and theoretical design frequency was 0.24%, and the amplitude was up to 16.7 μm.