This paper presents the tests of electrical discharge grinding (EDG) of polycrystalline diamond (PCD) on electrical discharge machine tool with high speed rotating device. The effects of wheel speed, open circuit voltage, peak current, pulse on time, and pulse off time of EDG on the material removal rate (MRR), wheel wear rate (WWR) and surface roughness (SR) are investigated respectively. The tests indicate that it is possible to shape PCD blank with EDG. The wheel speed makes the MRR increase dramatically. The higher the open circuit voltage, the larger is the MRR. The effect of peak current on the MRR, WWR and the SR is similar with that of open circuit voltage. However, the influence of the peak current is much larger than that of the open circuit voltage. Moreover, the peak current should be smaller than 32A. There is a best ratio between the pulse on time and pulse off time. If a ratio is larger or smaller than that value, there may be adverse effect on the SR and the MRR. Large pulse on time makes the MRR increase and the WWR decrease. However, all the parameters investigated have little influence on the SR of PCD. The SR is determined mainly by the grain size of PCD.