To meet the requirement of high precision image acquisition and process for infrared image processing system, a 10bit quantization precision video acquisition and display system is presented. The key components of this system are the 10bit video decoder of TVP5147 and the video encoder of ADV7123. The whole system provides one channel synchronous CVBS signal output, two channel TTL and LVDS interfaces of 10bit digital video output and one channel 10bit video input. One ATmega16L microcontroller and three XC95144XL CPLDs are used to implement the online configuration of decoders and coder and logic control of TTL/LVDS interfaces. A register configuration program with humanmachine interface is designed in the microcontroller, which could configure most registers of TVP5147 through the serial port of a personal computer. For the requirement of VGA display support, the 10bit realtime conversion from YUV color space to RGB color space is implemented via the Verilog hardware description language in the CPLD. The experiment results show that this system not only eliminates strip and contour line phenomena caused by quadratic integer truncation in the color space conversation of 8bit system, but also has features of low power, high precision and strong versatility, which makes it suitable for the image processing systems of image fusion, target recognition and so on.