High-Speed Machining (HSM) is one of the emerging cutting processes, which is machining at a speed significantly higher than the speed commonly in use on the shop floor. In the last twenty years, high speed machining has received an important attention as a technological solution for high productivity to increase economic efficiency in manufacturing. The recent developments in cutting tool materials for high speed machining are reviewed in this paper. The appropriate applications of the high speed machining technology are presented. The research is great beneficial to the design and the optimal selection of tool materials for high speed machining.