In recent years, the off-axis aspheric surface is widely used in wide coverage and high-resolution space optical systems. In this paper, research on processing technology of high precision and high efficiency off-axis ellipsoid aspheric mirror was studied deeply. With the help of CNC milling and polishing machine, off-axis ellipsoid aspheric mirror with diameter of 58mm was developed, by optimizing the concentration of polish liquid, grinding size, machining direction and other process parameters, based on the disadvantage of traditional processing that off-axis aspheric is easy to generate edge splitting and secondary surface damage, a new processing method "vertical off-axis ellipsoid aspheric surface processing method" was put forward. This method not only ensures the accuracy of work piece of optical axis, surface accuracy and accuracy of the edge, but also reduces secondary surface damage, improves processing efficiency and achieves high precision and high efficiency processing of off-axis ellipsoid aspheric surface, which is conducive to mass production. Through the detection of off-axis ellipsoid aspheric mirror by Taylor Profiler , surface accuracy (PV value) is 0.1981μm, the aspheric surface finish is level II and the optical axis accuracy is 0.01mm that it meets the requirements.