This paper describes cylindrical surface finishing characteristics and mechanisms by use of a vibration-assisted magnetic abrasive finishing process. Most previous studies have explored only characteristics of the process. However, finishing mechanisms and the effects of vibration on finishing characteristics are not well known. In this study, a kind of vibration-assisted magnetic abrasive finishing process using mixed type magnetic abrasives (pins and magnetic abrasives) was carried out to confirm the effect of vibration. Moreover, as a basic experiment, a conventional vibration-assisted finishing process using finishing paper was developed in order to clarify the finishing mechanisms in the vibration-assisted magnetic abrasive finishing process. On the basis of these experiments, the finishing characteristics are represented summarily and the mechanisms on vibration-assisted finishing are discussed. Owing to the formation of cross-cutting tracks, the vibration-assisted magnetic abrasives finishing process increased stock removal and reduced surface roughness. In especial, it was shown that the increase in stock removal is mainly due to an increase in stock removal per unit working distance.