The invention provides a two-stage-parallel cycloidal steel ball speed reducer, belonging to the field of precise mechanical transmission. The two-stage-parallel cycloidal steel ball speed reducer comprises a shell, an input shaft, a planetary disk I, an eccentric sleeve I, a steel ball set, a planetary disk II, an eccentric sleeve II, a steel ball set, an end cover, an output shaft, a pretension nut, a support bearing and a bearing end cover. The speed reducer adopts the NN two-stage-parallel few-tooth-difference planetary transmission basic structure; by using the inner and outer cycloidal sealed grooves in the end surfaces of the end cover, planetary disk and output shaft as tooth profiles and using steel balls as a medium, meshing transmission is performed; and the four-point contact of the steel balls and cycloidal sealed grooves is utilized to eliminate the tooth space. The speed reducer has the advantages of simple structure, small size, high transmission ratio, zero tooth space, high transmission accuracy and low impact. Meanwhile, as distinguished from the common NN cycloidal steel ball transmission, the two planetary disks are installed on different eccentric shaft sections in a 180-degree symmetric mode, and connected through a steel ball ring groove constant speed unit, thereby achieving the balance between meshing force and inertia force. The speed reducer has the advantages of small inertia force during transmission operation, low load of the swing arm bearing, and long service life.