Guide way is usually one of the weakest parts in the whole stiffness chain of machine tools. Therefore, the mechanical properties of it can affect the dynamic performance of machine tools. A novel sliersliding guide way based on Febased oily porous material joint interface was presented. The stiffness and damping properties of the oil porous material was analyzed, the lubricating and lowspeed stability were analyzed and experimental verified. Meanwhile, the guiding precision of designed guide way was simulated, and a design principle of the slider span was proposed. Comparing with the rolling guide, the result shows that the designed guide way with high stiffness, high damping and selflubricating characteristics, is suitable for the heavier load precision machine tools.