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Good handling stability becomes very important for heavily-laden electric wheel dump trucks that are operated on rough roads. To improve handling stability of mining dump trucks, nonlinear stiffness and nonlinear damping of the hydro-pneumatic suspension were considered as optimization variables. In this paper, based on the Daubechies wavelet's compactness and regularization and least-square method, the nonlinear stiffness and damping are identified. In order to verify the results of the parameter identification, the multi-body system dynamic model of the truck was built in ADAMS/view. By comparing the simulated results and tested ones, we find acceleration-history and power spectral density of acceleration are very close. And then, based on the approximate model method, the optimization model was built in ISIGHT. The nitrogen column and the orifice diameter were defined as the design variables. Finally, the handling stability was optimized by applying the genetic algorithms method.