The invention discloses a rare earth polishing disc which has high cutting efficiency, good wear resistance property and high surface brightness. To be different from the existing polishing disc, the rare earth polishing disc mainly comprises rare earth polishing powder, resin, magnesium sulfate or white sugar, curing agent and accelerating agent, wherein the rare earth polishing powder comprises the following compositions in percentage by weight: more than or equal to 60 percent but less than or equal to 99.99 percent of cerium oxide, and more than or equal to 0.01 percent but less than or equal to 40 percent of lanthanum oxide, the content of the rare earth polishing powder can achieve 65 percent, the relative particles of the rare earth polishing powder is small, the brightness of a polished object can be greatly improved compared with the original polishing disc, and the polishing time of the surface of a product can be shortened to be about 0.6 second, so that the working efficiency is improved, the wear resistance property is greatly improved, 1,000-1,200 NO.40 crystal balls can be polished by the original polishing disc with the same size, while the rare earth polishing disc can polish 4,000 NO.40 crystal balls.