In any metal cutting machining operation, the cutting fluid plays important role by cooling the cutting tool and the surface of the work piece, also chips are removed from heat affected zone. However, misuse of the cutting fluid and wrong methods of its disposal can affect human health and the environment badly. This paper presents a review of the important research papers published regarding the MQL-based application of mineral oils, vegetable oils and nano fluid-based cutting fluids for different machining processes, such as, drilling, turning, milling and grinding, etc. Most of the experimental studies have shown that application of MQL produces surface better than the flood and dry machining. In turning operation, parameters such as cutting speed, depth of cut, feed rate and tool nose radius have great impact on the surface finish. During high speed turning of steel inherently generates high cutting zone temperature. Such high temperature causes dimensional deviation and failure of cutting tools, surface and subsurface micro cracks, corrosion etc. Therefore, with proper selection of the MQL system and the cutting parameters, it is possible for MQL machining with minimum cost and less quantity of coolant to obtain better conditions, in terms of lubricity, tool life, cutting temperature and surface finish. The findings of this study show that MQL with nano fluid can substitute the flood lubrication for better surface finish.