A high-speed impact testing method for evaluating mechanical properties of materials is proposed using an inertial mass and a dual beat-frequencies laser Doppler interferometer (DB-LDI). In this method, an inertial mass levitated using an aerostatic linear bearing is made to collide with the material being tested at a high initial velocity. During the collision, the velocity of the mass, which is even higher than the critical velocity (±0.56 m/s) defined by the frequency difference of the Zeeman laser, is accurately measured using the DB-LDI. The position, acceleration, and impact force of the mass are calculated from the measured velocity. Using the proposed method, the mechanical properties of a visco-elastic material under a high-speed impact loading condition can be accurately evaluated.