Delays of both pedestrians, who are classified according to whether complying with traffic law, and vehicles at a signalized crosswalk are analyzed in this paper. The truncated Adams’ model is applied to generate the probability and mean of delay of pedestrians non-complying with traffic law. Using the section-based traffic queuing-theory and the stochastic decomposition property of M/G/1 vacation system with exhaustive service, the mean delay of vehicles is formulated. A multi-objective optimization model simultaneously minimizing the delays of pedestrians and vehicles during a signal period is proposed. The effects, which several model parameters have on the delays and the optimal solution of the model, are illustrated by numerical examples.