This paper presents a new type of jetting dispenser for the integrated circuit (IC) fabrication and surface mount technology The proposed system is featured by the piezoelectric actuator and hydraulic magnification device. After describing structural component of the dispensing mechanism and its operation principle, both the fluid modeling and the hydraulic magnification modeling are undertaken with a lumped-parameter method based on the analogy of the fluid system and mechanical system. A mathematical governing equation is then derived by integrating the fluid model with the mechanical model of the driving piston and piezoelectric actuator. Subsequently, in order to achieve a desired dispensing amount, control algorithm adjusting duty cycle of the driving voltage is synthesized and control responses are presented in time domain.