This article discusses the mechanics of chip formation and reviews the analytical modeling of the chip formation process by high-speed machining within the framework of continuum mechanics. It examines the relationship between the various high-speed machining parameters. The article describes the cutting tool systems for aluminum alloys, steel, superalloys, and titanium alloys and provides an overview of the alternative cutting tool geometries for increasing tool life. It highlights the factors considered by companies planning to employ high-speed machining systems and concludes with information on the applications of high-speed machining.