A new method for precise machining non-cylinder pin holes of pistons was presented by using Giant Magnetostrictive Material(GMM) smart components.To eliminate the impact of GMM smart component hysteresis and nonlinearity,a real-time hysteretic compensation control strategy combining a CMAC neural network feedforward controller and a sliding mode controller was proposed to implement the precision position tracking control of the smart component.The output and the output rate were used as the input data of CMAC neural network of the current smart component,the input current as the output of the neural network,and an inverse hysteresis model based on the GMM smart component was established by the CMAC network on-line learning.The model approximate error of CMAC neural network and the external disturbance were eliminated by using the discrete sliding controller.Simulation results show that the control strategy could on-line obtain the inverse hysteresis model of the smart component with a controll error less than 1.5%,and could eliminate the hysteretic nonlinear impact on the smart component.