A rolling mill equipped with an on-line roll grinding system comprising a disk type grinding wheel positioned to face one of a pair of mill rolls for grinding one said mill roll, grinding wheel drive means for positively rotatably rotating said grinding wheel through a spindle separately from rotational drive of said mill roll, grinding wheel movement means for pressing said grinding wheel against said mill roll, and grinding wheel traverse means for moving said grinding wheel in the axial direction of said mill roll, wherein:
- said grinding wheel comprises a wheel disk attached to said spindle and an abrasive layer adhered to one side of said wheel disk at a location spaced radially outwardly of a rotational axis of said wheel, said wheel disk being configured to elastically bend about said axis and function by itself as an elastic body to absorb vibration from said mill roll being ground during grinding of said mill roll and to thereby suppress chattering on the roll during rolling operations.