Crankshaft is one of the most critical components for effective and precise working of the internal combustion engine. A static structural and dynamic analysis was conducted on a single cylinder four-stroke diesel engine crankshaft. A solid model of the crankshaft was created using higher-end computer-aided design software. Finite element analysis was performed using ANSYS software under the static and dynamic condition to obtain the variation of stresses at different critical locations of the crankshaft. Boundary conditions were applied on finite element model in accordance with engine specification chart and engine mounting conditions. Optimization of the crankshaft was studied in the area of geometry and shape on the existing crankshaft.