A new method vector spectrum Hilbert demodulation analysis was put forward to diagnose rolling bearing fault. While Hilbert transform hold good modulation and demodulation functions，diagnosis on single channel signal may reduce the effectiveness. The full vector spectrum technology on the same source data fusion was able to reflect the vibration situation more precisely and effectively, and then the full vector spectrum was applied into Hilbert demodulation. The effectiveness of the method was proved in the experiment of rolling bearing race fault diagnosis and it is better than the traditional Hilbert demodulation method.