In order to carry out performance testing of ultra-low frequency standard vibration table with large amplitude, an undersampling homodyne quadrature laser interferometry measurement method was proposed in this paper. Based on the design of depolarization beam splitting measurement optical path, a wave plate yaw adjustment method was proposed to compensate hardware of the quadrature phase error in real time. The Kalman quadrature signal demodulation algorithm based on motion state estimation was presented to demodulate the interference fringes of deep undersampling to reduce the sampling rate and the amount of data produced. The experimental and simulation results show that the quadrature phase error and its sensitivity to the angle deviations of wave plates are significantly reduced, the sampling rate of the Kalman quadrature signal demodulation algorithm and number of samples per channel are reduced to 0.056% of Nyquist sampling theorem for measuring ultra-low frequency vibration. The undersampling homodyne quadrature laser interferometry measurement method proposed in this paper can meet the requirements of ultra low frequency and ultra large amplitude standard vibration measurement.