The computer‐aided analysis of microstructure evolution during the sintering process of self‐lubricating ceramic tools can unveil the underlying sintering mechanism and optimize experimental parameters. In this study, a novel self‐lubricating ceramic tool material, Al2O3/SiC/h‐BN@Al2O3, was fabricated with Al2O3 as the matrix, SiC as the reinforcement phase, and h‐BN@Al2O3 as the solid lubricant. The Monte Carlo (MC) method was employed to construct a model of self‐lubricating ceramic tool material, consisting of Al2O3/SiC/h‐BN@Al2O3. Subsequently, the sintering process was analyzed to investigate the influence of particle size and content of reinforced SiC, as well as the content of coated solid lubricant h‐BN@Al2O3, sintering pressure, and temperature on the microstructure of the tool. Optimal composition and sintering parameters were determined: 3 vol% for SiC additive amount with a particle size of 0.05 μm; 5 vol% for h‐BN@Al2O3 additive amount; and an optimal sintering temperature at 1650°C. The development of self‐lubricating ceramic tool materials, Al2O3/SiC/h‐BN@Al2O3, was realized through the employment of the aforementioned parameters. Their mechanical properties and microstructure were comprehensively characterized. The bending strength, fracture toughness, and Vickers hardness of the experimentally‐prepared Al2O3/3 vol%SiC/5 vol%h‐BN@Al2O3 self‐lubricating ceramic tool material were determined to be 722.42 MPa, 6.5 MPa·m1/2, and 20.65 GPa, respectively.