In this study, various cooling liquids considered as alternatives to water were investigated for cutting performance of diamond sawing disc utilized in cutting process of natural stones. In experiments, four various cooling liquids such as water, Ace-Cool, boron oil and liquid soap and two different natural stones (Blue Pearl and Nero Zimbabwe) were used. Down-cutting mode was selected for cutting experiments. In experiments, power consumption, cutting forces, specific energy, diamond segment wear and diamond crystal failures were determined. Power consumption of diamond sawing disc was measured through an energy analyzer and cutting forces through a three-directional dynamometer (ESIT). Specific energy values were calculated through an analytical method on the basis of the resulting power consumption and cutting forces. Besides, diamond segment wear was measured through a laser device (KEYENCE) and diamond crystal failure in cutting process was analyzed through scanning electron microscopy on the basis of cooling liquids. Results of the study show that various cooling liquids proposed as alternatives to water increase significantly cutting performance of the diamond sawing disc. While maximum cutting performance was achieved with a mixture of water and boron oil, minimum performance was achieved through use of water.