Through combining turning experiments and FE simulations, this paper studied the effects of force, temperature and residual stress of machined surface on high speed hard turning GCr15 bearing steel hardened to HRC60-62 with three kinds of ordinary edge preparation (sharp-edge, hone and chamfer). The experiment and simulation results indicated that the diathermanous proportion of chamfered edge preparation to tool and machined surface is less, and this distribution of cutting temperatures is useful for tool life and machined surface quality. The simulation results showed that cutting force had a descending tendency with increasing of cutting speed, which is in accordance with the change rules of machining general rigidity material, and it proved that FE simulations have good precision. The simulation results of residual stress of machined surface showed that residual tensile stress existed in machined surface using both honed and chamfered tools, and a highest compressive stress (about -200MPa) existed among 150-200μm of the depth into the workpiece surface. The difference was that the depth of superficial harden layer with honed tools is larger than that with chamfered tools.