This paper reports state of progress for development of high-performance CFRP flywheel. For the development, high specific energy density and durability are required. A new fabricating method suggested in our previous work (Mechanics of Time-Dependent Materials 2012) is employed for the CFRP flywheel. According to the method the fabricated flywheel does not have radial stress and the ultimate failure is dominated by hoop stress. A spin test is conducted for the fabricated CFRP flywheel. Strain gauge and digital image correlation methods are employed for the rotational strain measurement. The both methods verify very little rotational radial strain, which means the radial stress is also little. As a first step of the development of high-performance CFRP flywheel, the feasibility of no-radial stress flywheel fabrication is indicated by this study.