This paper describes the development and design of a novel short stress path rolling mill which is used for teaching and research. The rolling mill can implement the asymmetric rolling by the way of the adjustment of upper roll speed, and also working as conventional rolling when the roll speeds of two rolls are equal. The rolling mill can produce not only the plate and sheet, but also profiles by the roll of different grooves. The rolling mill is appropriate for the rolling of the steels and nonferrous metals. In this paper, the design ideas and main parameters of principal components are presented with respect to the new rolling mill. It can provide references for the design and manufacture of rolling mill of similar functions and structures.