In most grinding processes, the use of cutting fluid is required, and research has been carried out to reduce the amount of fluid used due to costs and environmental impacts. However, such a reduction of fluid can result in thermal damage to the machined component because the amount of cutting fluid may not be sufficient to lubricate and cool the system. One way of improving the cutting fluid properties is to add micro or nanoparticles of solid lubricants. This paper aims to evaluate the performance of multilayer graphene platelets dispersed in cutting fluid and applied through the technique of minimum quantity of lubrication (MQL) during the peripheral surface grinding of SAE 52100 hardened steel. In this sense, the influence of these solid particles with respect to the surface and sub-surface integrity of the machined components was analyzed, performing the roughness and microhardness measurement and analyzing the ground surfaces. The results showed that the cooling–lubrication conditions employing graphene could obtain smaller roughness values and decreases of microhardness in relation to the reference value and components with better surface texture compared to the conventional MQL technique without solid particles.