A notch-induced high-speed precise shearing method was developed for high-strength metal bars, which prefabricated V-shape circumferential notches in batch on the bar surface to make stress concentration, and applied a high-speed load to complete separation on a new type of electric-pneumatic counter hammer. The FE simulation and experimental tests were conducted; the influences of loading speed, notch depth, and axial clearance were analyzed on the fracture behavior and blank quality; the microfracture mechanism was further investigated. The results showed that the circumferential notch inhibited the plastic distortion and obtained high precision chamfered billets, with a roundness error of 1.34%, flatness error of 0.34 mm, and incline angle of 0.87°. Besides, the surface notch effectively reduced Max. impact force and fracture energy. The fractography revealed that: for the notched bar, the cracks initiated from the thin extrusion layers at the bilateral-notch tips, and from micro extrusion and intrusion at the top-notch tip. The predominant microfracture mechanism involves microvoid coalescence and forming of quasi-parabolic dimples along with the shear stress.