According to the functional requirement and material characteristic of microwave ferrite substrates, the simulation process of relative motion trace was studied in the parallel lapping and polishing area by using coordinate transformation method, and it provided the theoretic foundation for the reasonable selection of processing parameters. The influence rules of various parameters on lapping efficiency were studied with the orthogonalizing experimental method. On the basis of the above, the parallel lapping and polishing experiments of microwave ferrite substrates were completed by using the optimum combination of processing parameters, and the quality of these substrates satisfied or preponderated the requirements.