Many problems of GCr15SiMn high-carbon chromium bearing steel have been found in the ordinary grinding (OG) process. Aiming at the problems of high grinding force, low residual compressive stress and low surface quality, ultrasonic machining technology is combined with OG. The test of ultrasonic vibration assisted grinding (UVAG) GCr15SiMn high carbon chromium bearing steel is carried out. The residual stress, surface roughness, grinding force, and surface morphology are analyzed by changing machining parameters. The research showed that as the grinding depth and feed speed become larger, the grinding force increased, when the spindle speed rises, the grinding force becomes smaller. In the test range, with the ultrasonic amplitude from small to large, the grinding force from large to small. The ultrasonic grinding force is 27.8% lower than that of OG. The surface roughness increases with increasing grinding depth and feed speed and decreases with increasing spindle speed and ultrasonic amplitude, and at an amplitude of 6 μm, the surface roughness is reduced by 27% compared to OG. When the feed speed and grinding depth are lowered or the ultrasonic amplitude is increased, the surface residual compressive stress is increased. Compared to OG, it is increased by more than 13.5% under the same parameters. At the same time, the phenomenon of burrs and surface tears can be reduced, and the surface quality of the workpiece becomes better.