A method for high-speed Ethernet link auto-negotiation, comprising: setting, by a first board, a port rate of the first board to a public rate which is supported by both the first board and a second board, wherein a port rate of the second board is the public rate; sending, by the first board, a first auto-negotiation packet to the second board according to the public rate, wherein the first auto-negotiation packet carries a rate supported by the first board, so that the second board determines, according to the rate supported by the first board and a rate supported by the second board, a highest rate supported by both the first board and the second board and sets the port rate of the second board to the highest rate; receiving, by the first board, a second auto-negotiation packet that is sent by the second board according to the public rate, wherein the second auto-negotiation packet carries the rate supported by the second board; and determining, by the first board, according to the rate supported by the first board and the rate supported by the second board, the highest rate supported by both the first board and the second board, and setting the port rate of the first board to the highest rate, wherein the highest rate is greater than the public rate; wherein the second auto-negotiation packet is sent by the second board continuously according to a specified time interval; and after the determining, by the first board, according to the rate supported by the first board and the rate supported by the second board, the highest rate supported by both the first board and the second board, and setting the port rate of the first board to the highest rate, the method further comprises: setting, by the first board, the port rate of the first board to the public rate if the first board fails to receive, within a first preset time period, the second auto-negotiation packet sent by the second board. setting, by a first board, a port rate of the first board to a public rate which is supported by both the first board and a second board, wherein a port rate of the second board is the public rate; sending, by the first board, a first auto-negotiation packet to the second board according to the public rate, wherein the first auto-negotiation packet carries a rate supported by the first board, so that the second board determines, according to the rate supported by the first board and a rate supported by the second board, a highest rate supported by both the first board and the second board and sets the port rate of the second board to the highest rate; receiving, by the first board, a second auto-negotiation packet that is sent by the second board according to the public rate, wherein the second auto-negotiation packet carries the rate supported by the second board; and determining, by the first board, according to the rate supported by the first board and the rate supported by the second board, the highest rate supported by both the first board and the second board, and setting the port rate of the first board to the highest rate, wherein the highest rate is greater than the public rate; wherein the second auto-negotiation packet is sent by the second board continuously according to a specified time interval; and after the determining, by the first board, according to the rate supported by the first board and the rate supported by the second board, the highest rate supported by both the first board and the second board, and setting the port rate of the first board to the highest rate, the method further comprises: setting, by the first board, the port rate of the first board to the public rate if the first board fails to receive, within a first preset time period, the second auto-negotiation packet sent by the second board.