The invention discloses a flaky and lump stearate grinding process and equipment. The grinding process includes the steps of: (1) receiving and storing semi-finished stearate; (2) primarily grinding the semi-finished stearate and then dedusting; (3)collecting the primarily crushed and dedusted material; (4) regrinding and dedusting the primarily crushed and dedusted material, and collecting the final product. The grinding equipment comprises a micro negative pressure bunker (1), a hammer mill (2), a cyclone dust collector (4), a cloth dust collector (6), an intermediate bunker (5), an air vortex mill (7), a second cyclone dust collector (9), a pulse dust collector (11), a finished product bunker (10) and an induced draft fan (12). The equipment disclosed by the invention is simple and reasonable in structure, and higher in grinding effect and efficiency and is environment-friendly and stearate dust discharged by the equipment is little.