The Fine Guidance Sensor (FGS) is part of the science instrumentation for the James Webb Space Telescope (JWST). The FGS is required to operate at 37 K and provide the data needed to facilitate fine pointing and attitude stabilization necessary to meet the requirements of the mission's science and engineering operations. We describe here the selection of the proper optical design form to meet requirements and its relative merits. The FGS has progressed with the successful completion of several key design reviews. The optical design of the current stage will be discussed here in detail.