The main purpose of this study is to present a comprehensive approach to illustrate the dynamic behavior of ultra-precision mechanism with clearance joints. According to geometrical features, the Largrange's equations of this mechanism is established. In order to describe the contact-impact process accurately, the models of dissipative contact force and modified friction force are introduced into the dynamic analysis model of this mechanism with clearance joints, which could describe the vibration characteristics clearly. Moreover, the experimental performance platform of high-speed and ultra-precision mechanism is designed and built. Then, the dynamic response of this mechanism is represented with the simulation and experiment, which demonstrates the effectiveness of proposed model. In addition, the probability statistics, largest Lyapunov exponent and bifurcation characteristics are employed to study the effects of clearance joints on the dynamic behavior of this mechanism.