The invention provides a bit blank grinding method and an automatic bit sharpening machine. The bit blank grinding method is characterized in that a bit blank clamp drives bit blank to grind and operate along a path deviating from the circle center of an abrasive disk. The automatic bit sharpening machine realizing the grinding method comprises an abrasive disk assembly and a bit blank clamp assembly; a machine head rotary shaft of the clamp assembly is perpendicular to the transverse shaft of the clamp; and in a direction deviating from the circle center of the abrasive disk, the transverse shaft of the clamp drives the clamped bit blank and the disk surface of the abrasive disk to grind and operate. The technical scheme can automatically grind according to a diamond mesh, so that the grinding efficiency is greatly improved; and especially, manual work is not needed in equipment work, so that the automatic bit sharpening machine becomes the diamond grinding equipment with high degree of automation.