This work explores the improvement in grinding characteristics of Inconel 718 (IN718) using soluble oil under minimum quantity lubrication and liquid nitrogen (LN2) environments. The coolant flow rate in minimum quantity lubrication and LN2 grinding has been regulated through indigenously developed setups. Grinding performance has been studied in terms of on-machine measured grinding forces and centre line average surface roughness (Ra). The obtained grinding characteristics have been compared with the outcomes under dry and wet grinding. Surface integrity of ground surface, wheel morphology, and chip formation characteristics has been studied using scanning electron microscope, energy dispersive X-ray spectroscopy, and atomic force microscopy. Analysis of variance has been carried out to capture the variability in the experimental data for tangential forces and Ra. The main effect of the factors and their first-order interactions have been considered, and second-order regression equations have been developed using response surface methodology. LN2 grinding has been proved to be more efficient as it yielded lowest grinding forces, least oxidation, minimal ground surface damage and better surface integrity. The occurrence of almost circular chips in dry grinding indicates severe oxidation, whereas small C-type chips formed under minimum quantity lubrication and LN2 conditions indicate effective cooling under these environments. The energy dispersive X-ray spectroscopy analysis of the ground surfaces also supports these results through the occurrence of the highest oxidation in dry grinding. From this work, it has been concluded that LN2 and minimum quantity lubrication grinding offer a clean and effective means to improve grinding performance of IN718 compared to dry and wet grinding.