The invention provides bicycle part machining and grinding equipment with a dust removal function. The bicycle part machining and grinding equipment comprises a supporting seat, mounting frames are fixedly connected to the front end and the rear end of the upper surface of the supporting seat, a mounting seat is mounted in the middle of the upper surface of the supporting seat, a dust removal fan is mounted on the left side of the upper surface of the supporting seat, a baffle is fixedly connected to the right side of the upper surface of the supporting seat, a dust removal groove is formed in the position, located on the left side of the baffle, of the upper surface of the supporting seat, and a collection box is slidably connected to the position, below the dust removal groove, in the supporting seat. The magnetic induction intensity of an iron core can be adjusted according to the position of a cleaning plate, the surfaces of parts are cleaned while fixing and dismounting are conducted, the machining efficiency is improved while manpower is saved, a metal bar can be driven to rotate to cut a magnetic field when the dust removal fan is started, dust is collected through a generated electric field, the overall automation degree is high, cleaning efficiency is improved, meanwhile, chippings generated by polishing are recycled, and waste and pollution are avoided.