A new spin-and angle-resolved photoemission spectrometer was developed adopting the very-low-energy-electron-diffraction (VLEED) type spin polarimeter. The Fe(001)p(1×1)-O film grown on MgO(001) crystal for the VLEED target yields significantly high spin-resolving power, the effective Sherman function of 0.40±0.02, with long lifetime and stability compared with the conventional Fe(001) target. Under the favor of high resolving power, approximately 100 times higher efficiency than that of conventional Mott type spin polarimeter, the figure of merit of 1.9±0.2×10^-2 was achieved. Owing to this high efficiency, quite high energy-resolution (ΔE∼30 meV) and high angular resolution (Δθ∼±0.7^o) can be realized with this new spin-polarized photoemission spectrometer. The simplified ways of preparation and revitalization of the target make the VLEED spin polarimeter much more convenient and feasible for the spin polarized photoemission spectroscopy. This technique will open new insight in the magnetism of surfaces and nano-structures and their applications for the spintronics in the future.