INCONEL® alloys are Ni-based superalloys with superior mechanical properties for extremely high temperature (T) applications. These alloys present significant challenges: they are difficult-to-cut materials due to the low thermal conductivity (k), severe work hardening and elevated surface hardness. They are widely used in applications that require good dimensional stability; however, built-up edge (BUE) followed by premature Tool Wear (TW) are the most common problems when applying conventional machining (CM) and hybrid machining processes, i.e. Additive Manufacturing (AM) followed by milling, resulting in a meagre final product finishing. Regarding cooling/lubricating environments, a miscellanea of methods can effectively be applied to INCONEL® alloys, depending on their advantages and disadvantages. It is imperative to refine the machining parameters to enhance the performance outcomes of the process, particularly concerning the quality and cost-effectiveness of the product. This current review intends to offer a systematic summary and analysis of the progress taken within the field of INCONEL® CM and the various cooling/lubricating methods over the past decade, filling a gap found in the literature in this field of knowledge. A Systematic Literature Review (SLR) approach was employed in this study, aiming to identify pertinent papers within the cooling and lubricating strategies for INCONEL® alloys machining. The most recent solutions found in the industry and the prospects from researchers will be presented, providing significant insights for academic researchers and industry professionals. It was found that selecting cooling methods for INCONEL® machining requires careful consideration of various factors. Each lubrication environment utilized in traditional INCONEL® machining methods offer unique advantages and challenges regarding the different outcomes: TW, Tool-Life (TL) and/or surface quality assessment; nevertheless, cryogenic cooling by CO2(l) and N2(l) highlights as the better cooling environment to improve the machined surface quality.