Concerning the problems of low efficiency and less processing points of the traditional algorithm for point cloud simplification, according to the slicing principle in the rapid prototyping with feature-preserving and low computational complexity, a parallel slicing algorithm was designed and implemented for more than ten millions point cloud of Light Detection And Ranging (LiDAR) data. The point cloud model was layed with the slicing principle and every layer was sorted according to the angle. Incorporating the parallel computation framework of Compute Unified Device Architecture (CUDA) proposed by NVIDA and taking the highly parallel performance advantages of the programmable Graphics Processing Unit (GPU), and parallel execution of the single slice point cloud simplification with the multi-thread of GPU was done, which improved the algorithm efficiency. Finally, a comparing experiment was done with three groups of point cloud data in different order of magnitudes. The experimental results show that the efficiency of the proposed algorithm has 1-2 order of magnitude higher than that of traditional algorithm under the condition of keeping the model characteristics and not changing the compression ratio.