In this paper a novel high-speed rotary ultrasonic motor based on the out-of-plane flexural vibration mode is proposed. The stator consists of a metal disk and a carbon fiber tube. The carbon fiber tube is bonded to the center of the metal disk, and the carbon fiber tube is used to amplify the vibration amplitude of the metal disk. There are eight piezoelectric plates bonded to the both sides of the metal disk for exciting the stator’s out-of-plane flexural vibration mode. The rotor pressed on the conical surface of the carbon fiber tube can be driven to rotate by the traveling wave propagation via the contact friction force. A three dimensional finite element model of the ultrasonic motor is built and a numerical simulation is carried out by Ansys software. Trajectories of the contact point can be calculated and the optimal size of the motor can be obtained. Experimental results show that the motor can rotate at the maximum speed of 5 520 r/min when the driving voltage is 350 Vp-p and the driving frequency is 30.9 kHz. The maximum lifting force of the motor after installation of one propeller reaches 14 mN. The experiments show that the maximum rotary speed of the novel motor is higher than the traditional traveling wave rotary ultrasonic motor. The future work is to optimize the structure to improve the performance of this motor for the requirements of micro air vehicles.