An aspherical lens, which resolves several problems with a spherical lens,typically serves asa key part of an optical system. Generally, an aspherical lens is fabricated using a diamond turning machine or by mean of injection molding. However, residual stress and/or tool marks can arise when using a commercial fabricating method such as DTM or injection molding. A polishing process, thus, is commonly used to obtain a high-precision aspherical lens. In this study, a polishing method using MR fluid was applied to minimize several problems, in this case residual stress and the creation of tool marks, during the cutting process. The MR polishing system was developed to polish aspherical lenses. A series of experiments were performed to obtain a very fine surface roughness. PMMA (the lens material for molding) was used as a workpiece, and the gap size, magnetic field intensity, wheel speed and feed rate were selected as the parameters in this study. Finally, a very fine surface roughness of Ra=2.12nm was obtained after MR polishing.