A DSP based module is developed in this paper to acquire the vibration signal from the IEPE vibration sensor and process the collected data to extract the characteristics of vibration signal. The technical specifications of the module are established and its hardware and software proposals are provided. In terms of hardware, the hardware design is introduced in detail including 16 signal conditioning circuits, A/D converter, FPGA, DSP, FLASH, SDRAM, and LAN interface. The FPGA's logic is also designed to drive and control the ADC, transfer the data between FPGA and DSP, and realize network communication with the TCP/IP protocol. On the software side, the program of DSP is described that is composed of the main program and the interrupt service routine. The performances of the designed module are tested and evaluated with some experiments of gear and bearing in time-domain or frequency-domain. The results show that the module's performances meet the design requirements, and the module can extract the typical fault characteristics of the rotating machinery.