Various tools, such as biomedical manipulators, optical aligners, and ultraprecision manufacturing tools, implement nanopositioners that must be dynamically tunable to satisfy the requirements of different working conditions. In this paper, we present the design and analysis of a flexure-based nanopositioner with dynamically tunable characteristics for the implementation of a high-performance servomechanism. The nanopositioner is composed of four flexure beams that are positioned in parallel and symmetric configurations sandwiched between magnetorheological elastomers (MREs). The properties of MREs impart dynamicity to the nanopositioner, allowing the workspace, stiffness, and damping characteristics in particular to be tuned under the action of an external magnetic field. By utilizing elastic beam theory and electromagnetic field coupling analysis, kinetostatic and dynamic models of the proposed nanopositioner were established to predict the variable stiffness property and dynamically tunable characteristics. The models were validated by performing a finite element analysis. Herein, it is shown that the proposed nanopositioner model can actively adjust the trade-offs between the working range, speed, and sustained load capability by changing the magnetic field. The proposed dynamic tuning method offers new insight into the design of flexure-based nanopositioners for real applications.