Macro–micro dual-drive technology uses a micro-drive system to compensate for motion errors of a macro-drive system, solving the contradiction between large travel and high-precision motion. Additionally, it has a wide range of applications in the ultra-precision field. Therefore, it is necessary to analyze and research the ultra-precision macro–micro dual-drive system. Firstly, this paper analyzes the history of ultra-precision technology development and summarizes the research status of ultra-precision technology processing and application. Secondly, the micro-drive mechanism design and macro–micro-drive mode of macro–micro dual-drive technology, which can solve the contradiction of large stroke and high precision, are reviewed, and the application of macro–micro dual-drive technology in an ultra-precision system is summarized. Finally, the challenges and development trends of the ultra-precision macro–micro dual-drive system are analyzed. The research in this paper will play an important role in promoting the development of the ultra-precision system and macro–micro dual-drive technology.