Motion errors of linear motion guideway are analyzed theoretically in this paper. For the analysis, an new algorithm predicting motion errors of bearing and guideway is proposed using the Hertzs elastic deformation theory. Accuracy averaging effect can be calculated quantitatively by analyzing relationship between motion errors of guideway and spatial frequency of rail form error. Influences of design parameters on the motion errors including the number of balls, preload, ball diameter, bearing length and the number of bearings are analyzed. As it is difficult to measure the rail form error, experimental results are compared with results analyzed by the equivalent analysis method which evaluate the motion errors of guideway using the measured errors of bearing. From the experimental results, it is confirmed that the proposed analysis method it effective lo analyze the motion errors of linear motion bearing and guideway.