A novel parallel manipulator with two rotations and two translations was proposed. The moving platform of the parallel manipulator was connected to the fixed base through four kinematic limbs. Four prismatic joints can be used as actuations to fully control the motion of manipulator. The mobility and motion characteristic of the manipulator were analyzed by using Lie Group theory. Position model of the parallel manipulator was established. Inverse and forward position solutions were analyzed. It was demonstrated that the analytical expressions can be obtained for the inverse and forward position solutions. Partially decoupled motion characteristic of the manipulator was analyzed. Position of the moving platform can be determined by two limbs. Singularity analysis was conducted based on Jacobian matrix. Singular configurations, including inverse kinematic singularity, forward kinematic singularity and combined singularity were analyzed. Workspace and singularity curves were determined. It was found that the singularities located near the boundary of the workspace and the parallel manipulator had relatively high rotational capability. The rotational ranges in two directions were -44°~60° and -35°~52°, respectively. Performance analysis was carried out by using the method of motion/force transmission. Performance distribution over the orientation workspace was sketched. Global performance index was used in optimal design of the manipulator. The proposed parallel manipulator can be used in many fields such as five axis machine and motion simulator.