Extensive researchers have conducted several experiments in the past for selecting the optimum parameters in machining nickel based alloy – Inconel 718. These experiments conducted so far are dealt with dry machining and flooded coolant machining of nickel alloy Inconel 718. In this research study, the usage of refrigerated coolant is also dealt with and it is compared with dry machining and flooded coolant machining. Cutting speed, feed and depth of cut are considered as the machining parameters. The effectiveness of the refrigerated coolant in machining the heat resistant super alloy material Inconel 718 with respect to these machining parameters are described in this article. The machinability studies parameters were generated with surface roughness and flank wear. The performance of uncoated carbide cutting tool was investigated at various cutting condition under dry, flooded coolant and refrigerated coolant machining. The relationship between the machining parameters and the performance measures were established and using analysis of variance significant machining parameters determined. This article made an attempt to Taguchi optimization technique to study the machinability performances of Inconel 718. Taguchi approach is an efficient and effective experimental method in which a response variable can be optimized, given various control and noise factors, using fewer experiments than a factorial design. Taguchi’s optimization analysis indicates that the factors level, its significance to influence the surface roughness and flank wear for the machining processes. Confirmation tests were conducted at an optimal condition to make a comparison between the experimental results foreseen from the mentioned correlations.