Recently, hybrid ceramic bearings and oil/air lubrication have been used more and more on high speed spindles. However, applying an appropriate lubrication and the hybrid bearings can’t be overemphasized, and the oil/air supply with inadequate parameters is undesirable. In this study, a high speed ceramic spindle equipped with HIPSN (Hot Isostatically Pressed Silicon Nitride) full-ceramic ball bearing and Y-TZP (Yttria partially stabilized Tetragonal Zirconia Polycrystal) ceramic spindle shaft was designed for higher speed, stiffness, precision and longer operating life. Furthermore, the performance of a high-speed ceramic motorized spindle under different lubrication parameters was investigated. The optimum lubrication conditions that create the smallest temperature increase were obtained by the applying of the Taguchi method. The results show that oil volume per lubrication cycle, interval time per lubrication cycle and air pressure are three pacing factors that affect the temperature increase most significantly in ceramic motorized spindle with oil/air lubrication.