Finite element model of zirconia ceramic bearing raceway superfinishing with diamond stick was established by ABAQUS software, and its machining mechanism was analyzed. The surface roughness and surface morphology of the raceway after superfinishing were obtained by finishing zirconia ceramic bearing raceway with diamond stick. The effect of superfinishing stress on surface quality of zirconia ceramic bearing raceway was studied. The results show that as the tangential velocity increases from 150 m/min to 450 m/min, the surface stress decreases and the surface roughness decreases from 0.091 2 μm to 0.059 3 μm and then increases. As the stick stress increases from 0.2 MPa to 0.8 MPa, the surface stress increases, and the surface roughness decreases from 0.194 2 μm to 0.032 2 μm. When the swing speed of long and short stroke of diamond stick increases, the surface stress of bearing raceway increases, and the surface roughness increases from 0.071 6 μm to 0.085 8 μm and 0.062 7 μm to 0.100 8 μm, respectively. It is helpful to improve the machining quality by properly increasing the tangential speed, the stick pressure and the long-stroke swing speed of the workpiece and reducing the short-stroke swing speed.