The high-performance tool materials have been inevitably used for most of the cutting tool applications where high reliability and difficult to cut materials are of major demand. The cemented carbides and its composites offer an excellent combination of the properties where it can be used for tool materials due to its high wear resistance, high hardness at elevated temperatures, and considerable fracture toughness. However to obtain optimum values of mechanical properties and uniformly distributed ultrafine grains, a number of new fabrication techniques, alteration in the content of cemented carbide composition, and variation in the parameters of fabrication process have been employed. This review paper will come in handy for researchers and scientists working on advanced cemented carbides and spark plasma sintering as it overviews the recent work done on tungsten carbide composites using the novel spark plasma sintering technique considering different process parameters in order to achieve ultrafine microstructures of sintered specimens, enhanced mechanical properties of composites in addition to energy as well as time saving considerations. The thorough review of various research papers revealed that the parameters of the sintering (sintering temperature, applied pressure, surrounding environment), additives in sintering (both content and composition), reinforcement of cemented carbide with other materials, nano-filler/whisker addition, partial or complete removal of metallic phase from the cemented carbide affect the properties of sintered specimens and their calculated as well as optimum setting can provide an excellent combination of properties desired in cutting tool operations.