The invention discloses a compact type gasbag polishing precession mechanism and relates to gasbag polishing. The compact type gasbag polishing precession mechanism is provided with horizontal shafts, an arc rack, a horizontal shaft motor, a gear, a swing arm, a vertical shaft motor, a vertical shaft, an end cover, a spindle box, spindle box swing arms, a gasbag tool, a spindle motor, a coupling and a bearing. The swing arm is installed vertically. The vertical shaft motor is vertically installed at the top of the swing arm and controls the swing arm to rotate. The spindle box is installed inside the swing arm in an inlaid mode. The spindle box swing arms are connected with the lower end of the swing arm through the horizontal shafts. The arc rack is installed on the left side of the spindle box. The horizontal shaft motor is vertically fixed to the left side of the swing arm. The gear installed at the motor shaft end of the horizontal shaft motor is engaged with the arc rack. The spindle motor is of a hollow structure and is installed inside the spindle box. The gasbag tool is located at the bottom of the spindle box and connected with a spindle of the spindle motor through the coupling. According to the compact type gasbag polishing precession mechanism, a tire structure is adopted, inflation is easy, the precession mechanism can be separated from a pneumatic supply, the number of matched devices of a machine tool is reduced, and the spindle structure of the machine tool is simplified.