The mandrel parts, as the essential component of the aerostatic spindle, play a pivotal role in determining the performance of both the spindle and ultra-precision machine tools. However, the stringent precision machining requirements of these parts pose significant challenges to machining technology. In this paper, an integrated process method combining in-situ measurement and machining specifically tailored for the mandrel of the aerostatic spindle is introduced. Using this method, spindle radial error, machine coaxiality error, and slide linear motion error can be accurately separated from the original measurement data, enabling the precise reconstruction of the mandrel's cylindrical shape. Based on the reconstruction results and time-controlled grinding technology, the cylindricity of the spindle's mandrel ultimately achieved 0.5 µm. The readings from a commercial roundness meter is used to validate the accuracy of in-situ measurements. Overall, this integrated process offers a novel approach for high-precision machining of mandrel parts, demonstrating that high-precision machining can be achieved even with low-precision machine tools.