The invention relates to a ceramic ball bearing, particularly relates to a precise ceramic bearing and a machining process thereof and belongs to the field of bearings and machining thereof. According to the precise ceramic bearing and the machining process thereof, a rolling body utilizes a silicon nitride ceramic material, the density is reduced, the centrifugal force is reduced by more than 40%, the limited rotating speed is improved by more than 30% and the service life of the bearing is prolonged by more than 50%. Meanwhile, the silicon nitride ceramic material has the advantages of small friction coefficient, strong self-lubricating capability, wear resistance, high-temperature resistance and the like. Furthermore, a sleeve ring machining process adopts cold rolling and the effect of the cold rolling procedure reduces a lathing procedure, shortens the production cycle, improves the production efficiency and reduces the consumption of raw materials. If the precise ceramic bearing is manufactured by a common cutting machining process, the utilization rate of materials is commonly 40-50%, but if the precise ceramic bearing is manufactured by a cold rolling method, the material utilization rate can reach 70-80%.