An optimal trajectory generation strategy based on way-points is presented to solve the fixed-time state transition for spacecraft relative motion in a circular orbit. According to the dynamics of relative motion, the optimal transfer trajectory with continuous thrust is investigated by applying optimal control theory. Furthermore，a set of way-points constrained to be along the optimal transfer trajectory are introduced to parameterize the trajectory with impulsive constraints by multi-impulse control. By changing the positions of way-points and the time between two neighboring impulsive burns, the generated trajectory is optimized with quadratic programming algorithm. The simulations show that the strategy is practical and efficient.