The kinematics of a gliding flat-plate with spanwise oscillation has been optimized to enhance the power efficiency by using Bayesian optimization method, in which the portfolio allocation framework consists of a Gaussian process probabilistic surrogate and a hybrid acquisition strategy. We tune three types of acquisition function in the optimization framework and assign three different balance parameters to each acquisition function. The design variables are set as the dimensionless oscillating amplitude and reduced frequency of the spanwise oscillation. The object function is to maximize the power factor to support a unit weight. The optimization results in a maximal power factor of 1.65 when the dimensionless oscillating amplitude and reduced frequency vary from 0 to 1. The features of the probabilistic response surface are also examined. There exists an optimal reduced frequency for the power efficiency at the oscillating amplitudes above 0.40. In addition, the higher power efficiency may be obtained by increasing the amplitude beyond 1.00.