The invention discloses a novel diamond edge grinding machine which comprises two workpiece thimbles arranged on a workbench and a control panel, wherein a diamond workpiece is clamped between the two workpiece thimbles. The novel diamond edge grinding machine is characterized in that a polishing module is arranged under the two workpiece thimbles and is composed of an Y-axis sliding seat extending towards the height; an Y-axis sliding plate which slides up and down along an Y-axis is connected to the Y-axis sliding seat and is provided with a Z-axis sliding rail; a Z-axis sliding plate which slide back and fro along a Z-axis is arranged on the Z-axis sliding rail; a motor is arranged on the Z-axis sliding plate and is in transmission connection with a grinding wheel through a belt; a view deceleration module is arranged on one sides of the two workpiece thimbles and is composed of a host, a frequency modulation processor and a display; a camera is arranged on the other sides of the two workpiece thimbles; and an image, photographed by the camera, of rotation of a diamond is displayed by the display. The novel diamond edge grinding machine also comprises a flicker which illuminates towards the direction of the diamond and a sensor for sensing rotation of the workpiece thimbles, wherein the flicker frequency of the flicker during rotation of the diamond is A; the rotation frequency of each thimble is B; and A is smaller than B.