A case of remanufacturing used lathes via CNC technology is introduced, whose environmental and economic benefits are evaluated respectively. The results indicate that these environmental and economic benefits are remarkable, which are directly affected by remanufacturing design, more than 90% materials in used lathes are reused. Finally, the causes of economic and environmental benefits of remanufacturing machine tools are put forward. The remanufacturing design method, implementation procedure, and evaluation method of economic and environmental benefits presented are helpful for other equipment remanufacturing.