For a three-link vertical underactuated manipulator (TVUM) with only one active joint, the control target is to swing up its endpoint from the straight-down equilibrium point (SDEP) and to stabilize the endpoint at the straight-up equilibrium point (SUEP) eventually. Up to now, there are few effective control strategies to achieve the above control target. In this article, we propose an effective control method based on the trajectory optimization to realize the system control target, and the main steps of this article are: 1) a continuous trajectory that consists of two segments with design parameters is planned for the actuated link, along which the actuated link can be swung up from the initial states to the final states; 2) the design parameters are optimized by using the intelligent optimization algorithm to guarantee that the states of the underactuated links are continuous at the junction. In this way, the underactuated links are also moved to their final states with the actuated link simultaneously; 3) a tracking controller is designed by using the sliding-mode method to track the trajectory with optimized design parameters, so the endpoint is swung up from the SDEP to the SUEP directly; and 4) a stabilizing controller is further devised through the LQR method to keep the endpoint being stable at the SUEP. Finally, simulation results show that the proposed control method achieves the swing-up and stable control target of the system, and the control performance of the proposed method is superior than that of the existing control methods through the comparisons.