One new sliding-block balancing mechanism is proposed for the single-cylinder diesel engine. In the new mechanism, the sliding block is installed against the engine piston. The reciprocation trajectory of sliding block is collinear with the piston trajectory, while sliding block and piston move in the opposite direction, just like two opposite crank connecting rods. The new mechanism includes the crankshaft, connecting rod ring, the slider and the guide components. Through the bearing, connecting rod is installed in the eccentric journal of the crankshaft. The circular connecting rod is in the accurate guiding surface of the slider; and the guide pins are in the guide groove. Guide rod connects with supporting shaft through the guide hole of the slide. The optimized parameters for the sliding block show that the ratio of eccentric distance of the eccentric journal to the length of the connecting rod is equal to the ratio of crank radius to connecting rod length. The appropriate results can balance both the centrifugal inertia force and the reciprocating inertia force generated by piston group. Even the complete balance of the first and second-order reciprocating inertia forces can be obtained, which can reduce the vibration and noise of diesel engine.