The current research presents an overall performance-based analysis of Trihexyltetradecylphosphonium Chloride [[CH3(CH2)5]P(Cl)(CH2)13CH3] ionic fluid mixed with organic coconut oil (OCO) during turning of hardened D2 steel. The application of cutting fluid on the cutting interface was performed through Minimum Quantity Lubrication (MQL) approach keeping an eye on the detrimental consequences of conventional flood cooling. PVD coated (TiN/TiCN/TiN) cermet tool was employed in the current experimental work. Taguchi’s L9 orthogonal array and TOPSIS are executed to analysis the influences, significance and optimum parameter settings for predefined process parameters. The prime objective of the current work is to analyze the influence of OCO based Trihexyltetradecylphosphonium Chloride ionic fluid on flank wear, surface roughness, material removal rate, and chip morphology. Better quality of finish (Ra = 0.2 to 1.82 µm) was found with 1% weight fraction but it is not sufficient to control the wear growth. Abrasion, chipping, groove wear, and catastrophic tool tip breakage are recognized as foremost tool failure mechanisms. The significance of responses have been studied with the help of probability plots, main effect plots, contour plots, and surface plots and the correlation between the input and output parameters have been analyzed using regression model. Feed rate and depth of cut are equally influenced (48.98%) the surface finish while cutting speed attributed the strongest influence (90.1%). The material removal rate is strongly prejudiced by cutting speed (69.39 %) followed by feed rate (28.94%) whereas chip reduction coefficient is strongly influenced through the depth of cut (63.4%) succeeded by feed (28.8%). TOPSIS significantly optimized the responses with 67.1 % gain in closeness coefficient.