High-precision centerless grinding machines are emerging as a means of finishing the outer diameter grinding process required for ferrules, which are widely used as fiber optic connectors. In this study, a structural characteristic analysis and evaluation were carried out using a virtual prototype of a centerless grinding machine to realize systematic design technology and performance improvements required to manufacture ferrules. The prototype consisted of a concrete-filled bed, hydrostatic grinding wheel (GW) and regulating wheel (RW) spindle systems, a hydrostatic RW feed mechanism, a RW swivel mechanism, and on-machine GW and RW dressers. The loop stiffness values of the centerless grinding machine were estimated based on the relative displacements between the GW and RW caused by grinding forces. The simulated results illustrated that a concrete-filled bed considerably improved the structural stiffness and accuracy of a high-precision centerless grinding machine.