This paper deals with the development of a high-efficiency and precision grinding technology for producing HIPSN ceramic bearing races. A new high-speed CNC grinding machine has been developed, which is equipped with a high-speed ceramic spindle with a built-in motor. Extensive experiments have been performed with this new machine to investigate the influence of various process parameters such as wheel speed, work speed, depth of cut, and wheel grit size on material removal rate, surface finish, grinding forces, and so on. The results of these investigations are presented in this paper. With the application of this technology, a low cost production of ceramic bearings race was realized with the most optimized process parameter.