In order to measure the rotating machinery fault quickly and conveniently at a construction site, a new measuring system of rotating accuracy of spindle was developed according to three point method. With summarizing the principle of error separation technique based on three point method, the function, hardware construction and software module of this module were introduced. The problem of harmonic suppression is relieved by changing the sensor arrangement. The measuring system mainly consists of three eddy current sensors ,a acquisition card and a personal computer. After a few parameters were inputted, the rotation accuracy of calculation and display could be carried out automatically on line at a construction site.