This paper presents a high-speed high-precision spindle system with hybrid ceramic bearing, along with its lubricant design and numerical calculation method. A green and viscosity controllable water based fluid as lubricant of the spindle was designed. Viscosities as a function of temperature were tested. Subsequently, numerical calculation was used to deduce a serious of bearing performances. Based on the results rate of the permeation of porous restrictor, some bearing structure parameters and relative optimum lubricant viscosity were determined. The results of thermal elastohydrodynamic simulation and rotor dynamic analysis indicate that the design of the hybrid ceramic bearing meets security and performance specifications. Finally the structure arrangement of the spindle system was finished.