The invention discloses a tool track interpolation and speed planning method based on machine tool vibration suppression. The method comprises the steps of 1, reading a G01 track point into a numerical control system memory; 2, aiming at a G01 track segment obtained in the step 1, designing a G4 continuous interpolation track meeting a chord error constraint; and 3, designing a speed curve calculation method with smooth acceleration and time optimal under two known conditions for the smooth track obtained in the step 2, and giving a speed planning method under the dynamic performance constraint of each axis of motion. The track generated by the method meets the chord error constraint strictly and can allow the G01 point to pass through, and compared with a G2 corner transition track and aG3 interpolation track, the curvature extreme value at the corner can be further reduced, the speed fluctuation at the corner is relieved, and the impact of the machine tool is reduced. The designed speed planning method can ensure the machining efficiency and improve the vibration suppression level of the machine tool, thereby providing an important means for the development of a numerical control system interpolator of high-speed and high-precision machining.