In order to realize the fabrication of micro cylindrical electrode with high rotation precision, the electrochemical etching process was studied and improved. Firstly, based on the principle of electrochemical etching, the effect of electrode rotation on the machining accuracy of cylindrical electrode was analyzed, which proved that electrode rotation can improve the rotation precision of the microelectrode. Secondly, according to the experimental induction and theoretical derivation, the function relationships among machining voltage, immersion depth, and rotation speed were established, and then the mathematical model for fabricating micro cylindrical electrode with high rotation precision was founded. Finally, the optimized combination of parameters is selected under the guidance of above model, and series of micro cylindrical electrodes with coaxial error below 1 μm are fabricated successfully, such as, the single-stepped cylindrical microelectrode with diameter of about 100 μm, aspect ratio of more than 20:1, and the multi-stepped cylindrical microelectrode with diameter below 20 μm, aspect ratio of more than 70:1.