This paper presents a novel out-of-plane micro spatial light modulator (μSLM) based on leverage principle. Design principles and analytical models are both developed and verified by Finite-Element-Analysis (FEA). The μSLM consists of four individual actuators, each actuated by electrostatic attractive force to produce a downward displacement, and this displacement is magnified to be a large displacement at the mirror by the lever principle. Compared with conventional electrostatic μSLMs, the stroke of proposed design can be remarkably increased. Then the optimization of the design is also given to produce largest out-of-plane stroke. The mirror is 500μm by 500μm by 1.5μm and the lever is 200μm by 30μm by 2μm. As large as a 4.5μm stroke is obtained by simulation and the resonant frequent is about 4.8 KHz.