A high-resolution and non-contact method for measuring the thickness of the insulating ceramic coating is proposed. The measurement system consists of a chromatic confocal sensor, eddy-current sensor, prism, mirror, and high-precision rotatable and liftable platform. The chromatic confocal sensor can obtain the distance from the outer surface of the insulating coating, and the eddy-current sensor can get the distance from the inner surface of the insulating coating. The coating thickness can be obtained from the two sensors’ data combination and calculation. The geometrical optical path is analyzed to study the effect of the prism and mirror on the confocal sensor. The eddy-current sensor is simulated by COMSOL software with electromagnetic theories to explore the relationship between its output response and the measured surface's curvature. The sensing parameters of the two sensors are calibrated and optimized through simulation and experimental validation. Measurement software is developed by Labview to display the coating thickness in real time and reveal its distribution by 3D surface reconstruction. The measuring system’s performance is tested by an insulating bearing with a 60 mm outer radius. The results show that the axial resolution of the measuring system is 0.1 μm, the repeatable linearity is less than 3 μm, the dynamic measuring linearity relative to the mean value of the coating’s thickness is less than 8 μm, the detection speed is about 50 points/min. It has the advantages of high precision, non-contact, quick speed, stability, and visual display.