A long reliable life for the rolling bearing is of great importance in the gyroscope. In this study, a typical fatigue failure mode of the bearing is conducted based on observation of raceway surface topography and element composition analysis of foreign matter. In addition, the research on improving the material performance of gyroscope bearing by using pulse magnetic treatment technology is carried out. The results show that pulse magnetic treatment can promote the dislocation movement, change the grain boundary and dislocation density distribution, thereby enhancing the uniformity of material structure and mechanics, and improving the wear resistance performance of the bearing material. At the same time, the life test of gyro motor before and after treatment is compared, which proves that pulse magnetic treatment can effectively improve the service life of gyroscope bearing. In addition, the possible reasons for the improvement of bearing material properties are discussed in this paper.