Concerning that conventional Particle Swarm Optimization (PSO) is easy trapped in local optima and with low search efficiency in later stage, an improved PSO based on mean information and elitist mutation, named MEPSO, was proposed. Average information of swarm was introduced into MEPSO to improve the global search ability, and Time-Varying Acceleration Coefficient (TVAC) strategy was adopted to balance the local search and global search ability. In the latter stage of the iteration, the Cauchy mutation operation was applied to the global best particle to improve the global search ability and to further reduce the risk of trapping into local optimum. Contrast experiments on six benchmark functions were given. Compared with Basic PSO (BPSO), PSO with TVAC (PSO-TVAC), PSO with Time-Varying Inertia Weight factor (PSO-TVIW) and Hybrid PSO with Wavelet Mutation (HPSOWM), MEPSO achieved better mean value and standard variance with shorter optimization time and better reliability. The results show that MEPSO can better balance the ability of local search and global search, and can converge faster with higher accuracy and efficiency.