Compactness and light weight, large exit pupil diameter and distance, small distortion for virtual image, and see-through light paths are pivotal factors to achieve a better, wearable experience of optical see-through head-mounted displays (OST-HMDs). In addition, light efficiency of the virtual image light path is an important factor for heat dissipation in HMD devices. This paper presents a new type of OST-HMD optical system that includes three wedge-shaped freeform prisms and two symmetric lenses. Based on a 0.71 in. microdisplay, an OST-HMD prototype with a diagonal field of view (FOV) of 45.3°, an F-number (F/#) of 1.8, an exit pupil size of 12mm×8mm, and an eye relief of 18 mm is demonstrated. The maximum value of distortion of the final system is 0.6% and 0.4% for virtual image and see-through light path, respectively. The overall dimension of the optical system per eye is no larger than 30mm(width)×40mm(height)×14mm (thickness), and the weight of the optical module including lenses, holder, and microdisplay is 12.8 g. The light efficiency of the virtual image light path is up to 50% higher than those of other OST-HMD optical solutions.