As one of the modern manufacture technology, high-speed precision grinding takes an important part in the modern manufacture field. With the development of the technology on high-speed spindle unit, linear precision high-speed feed unit, manufacture of grinding wheel, measurement etc, a great deal of research achievements make it possible for high-speed precision grinding. In this paper, using PMAC (Programmable Multi-Axis Controller)—PC as the central controller, a new kind of high-speed precision grinder is designed and manufactured. The servo control technology of linear motor is investigated. The dynamic performances of the machine are analyzed according to the experimental results. Elliptical workpieces have been machined with this new high-speed precision grinder. Based on these research results, a very helpful approach is provided for the precision grinding of complicated workpieces, and these results promote the development of high speed grinding too.