An optical microelectromechanical-system (MEMS) pressure sensor based on multi-layer circular diaphragm is described and analysed by using the proposed novel analytical approach and the traditional transfer matrix method. The analytical expressions of the deflection of multi-layer diaphragm and absolute optical reflectance are derived respectively. The influence of residual stress on the deflection of diaphragm is also analysed. Simulation results given by the finite element method are consistent with the ones which are analysed by using the analytical approach. The analytical approach will be helpful to design and fabricate the optical MEMS pressure sensors with multi-layer diaphragm based on Fabry-Perot interferometry.