A high speed and small volume pneumatic polishing device was designed in order to solve the problem that using large volume and low speed of motorized spindle in traditional grinding. The bearing’s load capacity is analyzed by theoretical calculation, and the simulation model of the device is established by the finite element analysis (FEA) software. The static and dynamic characteristics of the device, such as stiffness, natural frequency and critical speed, are analyzed and checked. On this basis, the polishing experiment was carried out with flexible resin grinding tools, and the polishing characteristics of the device were preliminarily studied. The surface roughness of the workpiece is reduced to Ra1.395μm after polishing. The results show that the device can be used for high precision polishing.