Because of the large diameter’s big volume, heavy weight, high thermal capacity and bad measurement environment, the workpiece’s diameter can only be detected in the processing locale. Though the rolling-wheel method can realize the large diameter online measurement, it can not achieve the diameter high precision measurement influenced by rolling-wheel skidding, compression deformation and temperature distribution. Focusing on the above problem, a new multi function rolling-wheel large diameter measurement system is designed. The designed system mainly researches the main error resource’s distinguish and amendment methods, such as the round grating graduator error, rolling-wheel shape error, rolling-wheel compression deformation, skidding of rolling-wheel to measured axis workpiece and its non-uniform temperature etc. The system can obtain the measured axis’s diameter and roundness real time while getting the needed information of error amendment by integrating multi opto-electronic switch, round grating, reference grating, micro-displacement sensor, temperature sensor etc. The system can realize diameter measurement extended uncertainty 5Dμm(D:1m~10m) and roundness measurement extended uncertainty 1.5Dμm.