In order to enhance the scanning frequency and delay time of the fast optical delay line (FODL) device based on the principle of involutes, an optical delay line device with high speed and high stability is proposed. The angle deflection and optical path difference change of emergent light caused by the assembly error of the delay line device is analyzed. The characteristics of the device including the scanning frequency, delay time, delay stability and delay linearity are tested with the Michelson interference system. The experimental results show that the delay line device possesses high assembly accuracy and can realize high-speed and high-stability scanning and large optical delay, with the scanning frequency of 100 Hz, the delay time of 167.45 ps, the delay distance of 50.06 mm, the stability error of 0.25%, and the linearity error of 0.05%.