The invention relates to a grinding wheel excircle machining method and a grinding wheel excircle machining device, in particular to an excircle machining method and an excircle machining device for carrying out abrasive machining on the excircles of common abrasive grinding wheels. The grinding wheel excircle machining method is characterized in that more than two grinding wheel workpieces are coaxially arranged side by side, the grinding wheel workpieces are pressed onto a stop locating structure located on one side of one grinding wheel workpiece by depending on a compressing structure, for realization of clamping, and then the machining of the grinding wheel workpieces is completed in once clamping. On a grinding wheel clamping shaft of the corresponding grinding wheel excircle machining device, a workpiece mounting position where more than two grinding wheel workpieces are coaxially arranged side by side and sleeve the grinding wheel clamping shaft is arranged on one side of the stop locating structure. The grinding wheel excircle machining device comprises the compressing structure used for compressing the grinding wheel workpieces arranged side by side onto the stop locating structure together to realize the fixing of the grinding wheel workpieces. With the adoption of the scheme, the grinding wheel workpieces can be machined during the once clamping by depending on the common locating reference, thus the machining conformability is ensured.