A newly developed ball burnishing tool was designed and tested for surface finishing of large flat surfaces in a shortest possible time. Optimization and analysis of the burnishing process were carried on AISI 1010 steel hot-rolled plates using the Taguchi technique and response surface methodology (RSM) to identify the effect of burnishing parameters (i.e., burnishing speed, burnishing force, and feed rate) on surface roughness, surface hardness, and microstructure of burnished surfaces. The optimal burnishing parameters were found after conducting the Taguchi’s L25 matrix experiments and obtaining the response models for the surface roughness and the hardness. It was found that the burnishing force has the most influential effect on the surface roughness and hardness, followed by the burnishing speed, and least influence by the feed rate. In addition, microstructural examinations of the burnished surface indicate that burnishing force more than 400 N causes flaking of the burnished surfaces. The optimal burnishing parameters for the steel plates were a combination of a burnishing speed of 235 rpm, a burnishing force of 400 N, and a feed rate of 0.18 mm/rev. Using these parameters, the mean surface roughness has been improved from Ra = 2.48 to 1.75 μm, while the hardness increases from 59 to 65.5 HRB.