In order to meet the requirements of high speed turning, modern power operated jaw-chucks with centrifugal force compensation (CFC) were developed by some chuck producers. Based on the force and deformation analysis of the clamping system, a new analytic computation model of dynamic clamping force for modern chuck with CFC was developed, and verified by means of experimental investigations. The clamping behaviours during high speed turning, such as the loss of dynamic clamping force, centrifugal force compensation efficiency and clamping force hysteresis are investigated. Some problems of design and application of modern chuck with CFC are discussed. The study results provide reliable theoretic and technical supports to reasonably utilize the potential of modern chucks at higher rotational speed and guarantee a safe high speed turning process.