In this paper, the development and mechanical, physical properties on cermet cutting tool material are described. By using the cermet insert NT7 developed in recent years and WC based carbide insert YT14, the tool wear, impact and cutting force tests to high strength steel 38CrNi3MoVA (hardened and tempered, HRC36~40) are processed respectively. The results of these tests demonstrate that NT7 cutting tools have better performance on some characteristics, such as wear resistance, tool life and cutting force. And its ability of impact resistance is similar to YT14. These researches will benefit to the poplarizaion and application of cermet cutting tool.