The invention relates to machining equipment and a machining method of a bearing sleeve ring. The machining equipment comprises a high-frequency induction heater, wherein the high-frequency induction heater is provided with an annular heating pipe; the machining equipment further comprises a cooling water tank, a reflowing groove and a cooling water tank with a water pump; the cooling water tank is provided with a water feeding pipe; an overflowing opening is arranged on the tank wall of the cooling water tank; a water returning pipe is arranged between the reflowing groove and the cooling water tank; the cooling water tank is provided with a station for clamping the bearing sleeve ring; and a circular arc part of the annular heating pipe is located right above the station. The invention provides a rolling path protection device in a partial softening process of a screw hole; the circulating cooling water tank is arranged so that the rolling path and two proper parts of the two sides of the rolling path are immersed into cooling water when a sleeve ring screw hole and the periphery are heated and softened at a required high temperature; and a liquid surface of the cooling water tank is used for separating the bearing sleeve ring into a heating region containing the screw hole and a cooling region containing the rolling path, so as to effectively relieve the heat conduction speed of a heated part to the rolling path, and guarantee that the hardness of the rolling path is not influenced in a whole partial softening process.