The dynamic performance of the grinding wheel system is one of the key factors to affect the super-high speed grinding process The excessive centrifugal stress acted on the wheel body can make the wheel rupture due to the super-high rotary speed of the wheel. And the alternating centrifugal force caused by the wheel imbalance can not only make the spindle and bearings vibration and failure, but also lower the machining precision and the wheel life, as well as make against the safety. In this paper, the centrifugal stress of the high speed grinding wheel and its effect on machining process were analyzed by means of finite element analysis and simulation. The alternating centrifugal force and its effect on the wheel spindle system were investigated. Furthermore, the balance precision of super high speed grinding wheel and system was discussed for achieving the high precision, safety and efficiency machining process.