The graphite-like carbon (GLC) coating was deposited onto high-speed steel (HSS) twist drills by magnetron sputter ion plating technique. The drilling tests were performed on the ferrous metal under dry cutting conditions. By the analysis and comparison of the flank wear and the drilling forces on drills, the cutting performance of GLC coated HSS tools was researched. The results show that GLC coating with high hardness and low friction coefficient, due to its good adhesion and match with HSS substrate, can significantly improve the cutting performance of HSS twist drills, prolong the tool life, decrease the drilling forces in drilling the ferrous metal. And its cutting performance is better than the hard coated drills in the lower speed, but its thermal stability is inferior to the hard coated drills in the higher speed.