With the rapid development of aviation and aerospace, the demand for metal coating parts such as antenna reflector, eddy-current sensor and signal transmitter, etc. is more and more urgent. Such parts with varied feature dimensions, complex three-dimensional structures, and high geometric accuracy are generally fabricated by the combination of different manufacturing technology. However, it is difficult to ensure the machining precision because of the connection error between different processing methods. Therefore, a precise positioning method is proposed based on binocular micro stereo vision in this paper. Firstly, a novel and efficient camera calibration method for stereoscopic microscope is presented to solve the problems of narrow view field, small depth of focus and too many nonlinear distortions. Secondly, the extraction algorithms for law curve and free curve are given, and the spatial position relationship between the micro vision system and the machining system is determined accurately. Thirdly, a precise positioning system based on micro stereovision is set up and then embedded in a CNC machining experiment platform. Finally, the verification experiment of the positioning accuracy is conducted and the experimental results indicated that the average errors of the proposed method in the X and Y directions are 2.250 μm and 1.777 μm, respectively.