We present the optical, mechanical and electronic design of MAGNUM-MIP (the Multi-color Imaging Photometer for the MAGNUM Project). The MAGNUM project plans to carry out multi color monitoring observations for hundreds of AGNs over several years under remote and automated operation. MAGNUM-MIP has two channels that offer optical and infrared broad-band imaging observations at the same time. The: infrared channel has a SBRC InSb 256 x 256 array which covers a wavelength range from 1 to 4 microns, and the optical channel uses a 1024 x 1024 SITE CCD which covers 0.35 micron to I micron. The two channels use the same optics and a beam splitter. We adopted a reflecting optical system inn order to get good imaging quality over the wide wavelength range. Because the monitoring is expected to be carried out remotely for several years with minimun manual support and maintenance, the camera is designed to work with only semi-annual maintenance. It has a mechanical cooler, a low outgas design, and an automated vacuum system.