The utility model discloses a vertical lathe comprising a worktable, a cutter holder which is moveable relative to the worktable and a grinding device, wherein the grinding device comprises a grinding part (4) and a sand wheel (43) which is arranged on the cutter holder and extended towards the operating platform. The vertical lathe has the grinding function, a workpiece on which turning and grinding need to be carried out can be firstly processed by turning and then processed by grinding just by adjusting the position of the cutter holder, without moving the workpiece, or vise versa, thereby reducing the working procedures of processing the workpiece and saving process time. In addition, when workpieces to be ground, which are of limited quantity and larger or endowed with more complicated shapes, can be ground by utilizing the grinding device on the vertical lathe, without purchasing large special purpose grinders, thereby reducing the production cost.