In this study, the effects of dry, cryogenic cooling (LN2/CO2) environments and different cutting parameters on power consumption in turning AISI 52100 bearing steel with finite element analysis (FEA) were investigated. ThirdWave AdvantEdge software was used for FEA. In the analyzes, dry and cryogenic cooling (LN2/CO2) as the processing medium, three different cutting speeds (100 m/min, 150 m/min and 200 m/min), three different feed rates (0.1 mm/rev, 0.15 mm/rev and 0.2 mm/rev) and a fixed depth of cut (0.5 mm) were selected as machining parameters. According to the FE analysis results, it was observed that the power consumption in turning of AISI 52100 bearing steel in cryogenic cooling (LN2/CO2) environment decreased compared to dry environment in all cutting parameters. In the turning experiments performed in dry and cryogenic cooling (LN2/CO2) environments, it was observed that the minimum power consumption was measured at low cutting speeds and high feed rates. In this context, the lowest power consumption was measured as 72 W at 100 m/min cutting speed, 0.2 mm/rev feed rate in LN2 environment, while the highest power consumption was 217.3 W at 200 m/min cutting speed, 0.1 mm/rev feed rate in dry environment.