The coordinated control of machining quality and efficiency is the ultimate goal for the next generation NURBS curve interpolation algorithm. Recently, the existing researches on NURBS curve interpolation algorithm mainly focus on chord error, feedrate, machine tools acceleration/deceleration capability, but the reasonable matching between multi-objective’s parameter and error redundancy coordinated control has not been considered yet. Therefore, a new NURBS interpolation algorithm is proposed with multi-objective coordinated control in this paper, which does not only consider chord error, error redundancy, acceleration/deceleration capability of machine tools, real-time ability simultaneously, but also satisfy the reasonable matching between multi-objective’s parameter and error redundancy coordinated control. The results of experimental simulation indicate that the obtained new NURBS interpolation algorithm is reliable, and the coordinated control ability of machining quality and efficiency is improved obviously.