The invention discloses a bearing spacing and adjusting device, which comprises a bearing pedestal having through bores at left and right direction, an adjusting sleeve having the compaction effect to a bearing is assembled on the bore screw thread of the bearing pedestal, an outside thread is arranged on the outer peripheral face of the adjusting sleeve, a positioning surface cooperated with the transverse plane of the outer ring of the bearing is arranged at the left end of the adjusting sleeve, a guiding key is assembled along the bore on the bearing pedestal in a radial and slide mode, and a spacing groove for being inserted by a guiding key used for limiting the rotation of the adjusting sleeve is arranged on the outer peripheral face of the adjusting sleeve, wherein the spacing groove enables extension along the left and right direction. The bearing spacing and adjusting apparatus can ensure the cooperation compaction with the outer ring of the bearing by adjusting along the axial direction, bearing vibration can be prevented by the device of the invention, bearing wearing is reduced, and usage life of the bearing is prolonged.