with the high performance of microelectronic and optoelectronic devices, the new generation of optoelectronic wafers is developing in the direction of large size and ultra-thinning, which requires ultra-smooth surfaces with sub-nanometer surface roughness. It puts forward new requirements and challenges for the efficient and ultra-smooth planarization processing of optoelectronic wafers. This paper proposes a novel method of cluster magnetorheological finishing based on array circular holes polishing disk, which can effectively improve the polishing shear force and polishing efficiency. The appropriate polishing shear force and material removal rate are the keys to achieve low roughness and low damage processing of optoelectronic wafers. Therefore, the shear force model of solid particles in magnetorheological finishing fluid is established based on the tribological principle. The material removal rate model is established by combining the polishing shear force model with the velocity model. The correctness of the above model is verified by the rotary dynamometer and repeated single-factor experiments. The errors between theoretical and experimental values of polishing shear force and material removal rate are 8.8% and 10.8%, respectively. The new magnetorheological finishing method can realize the efficient and ultra-smooth planarization of optoelectronic wafers. The established model can theoretically guide the optimization of the surface structure and polishing process of polishing disks.