A high-speed banknote and coin classifying and counting machine is provided. A feeding system is disposed under a hopper and comprises a feeding dustpan and a connecting ladder. The connecting ladder comprises two slabs with a plurality of straight troughs. The lower end of connecting ladder is connected with an upper money sieving net and a lower money sieving net. A control system is installed under a first vibrating spring support. A vibration motor is fixed to the connecting ladder via a vibration motor fixing support. A banknote cover is installed a frame on a side of the connecting ladder, and an axial fan is installed on the other side of the connecting ladder. The bottom of the banknote cover faces a banknote collection drawer. The middle of the frame is provided with two layers of money sieving nets including the upper money sieving net and the lower money sieving net. The upper money sieving net and the lower money sieving net are provided with infrared counters for recording the number of coins. The high-speed banknote and coin classifying and counting machine can quickly separate the banknotes and coins which are mixed together, counts the separated coins, and is high in efficiency and accuracy.