CVD SiC is a perfect material used for molds/dies in hot press molding of glass lens. In its fabrication process, nano-precision polishing is essential finally. For this purpose, a novel polishing method using MCF (Magnetic Compound Fluid) slurry is proposed. In this method, MCF slurry is supplied into a given gap between the workpiece and a MCF slurry carrier, and constrained within the polishing zone by magnetic forces from permanent magnet. In this paper, after an experimental rig used to actually realize the proposed method has been constructed, the fundamental polishing characteristics of CVD SiC such as the effects of process parameters including MCF slurry composition on work-surface roughness were experimentally investigated. As a result, nano-precision surface finish of CVD SiC was successfully attained with MCF slurry and the optimum process parameters for obtaining the smoothest work-surface were determined.