Theoretical analysis and material experiment are employed to study the “single factor” material model. Based on the dislocation theory, an analysis shows that material model is deeply affected by temperature. By the least squares best fit to experimental data, material parameters are found. Experiment curves analysis and material parameters comparison show that the material parameters of “single factor” model of Mo-Cr cast iron are temperature dependent. Using the mathematical mapping between material parameters and temperature, the “single factor” material model of Mo-Cr cast iron is established, which is proven to be right by comparing with experimental measurements. This work provides a useful insight for understanding the material model and helps to develop further finite element simulation of high speed cutting process of Mo-Cr cast iron.