The study proposes a design method to construct a cycloidal gear profile by using the conjugate theory. Base on the proposed design method, a high-reduction reducer possessing a multi-stage cycloidal mechanism is introduced. The mathematical modeling is also provided in detail to evaluate for different tooth numbers, and then the equation of cycloidal gear profile is derived by using the conjugate theory. The validity of the proposed design method is demonstrated by means of an example, in which the reduction ratio is 400:1. The 3-D model and simulation is processed by SolidWorks simulation. Finally, we actually produce a reducer and improveits balance process by using a dynamic vibration measurement and FFT analysis.