This research focuses on making clear, theoretically and experimentally, the squeeze phenomenon of liquid film between two parallel coaxial circular discs when one disc vibrates sinusoidally in the direction axial to the other stationary one. Fist, the full Navier-Stokes equations were numerically solved taking into complete consideration the nonlinear inertia terms after clearing up the nondimensional parameters predomdnant in the squeeze phenomenon in this study. Second, exact experiments corresponding to the theoretical analysis were performed to prove the predicted performances of the squeeze phenomenon discussed. Finally, general and practically useful results obtained from the theoretical calculations associated with such factors as pressure fluctuation in a cycle, velocity profile and time-averaged loading capacity of the disc due to the nonlinear inertia terms were reduced and discussed.