The paper presents results of investigations on the binderless nanostructured tungsten carbide (WC) cutting tools fabrication and performance. The scientific novelty includes the description of some regularities of the powder consolidation under electric current and the subsequent possibility to utilize them for practical use in the fabrication of cutting tools. The sintering process of WC nanopowder was performed with the electroconsolidation method, which is a modification of spark plasma sintering (SPS). Its advantages include low temperatures and short sintering time which allows retaining nanosize grains of ca. 70 nm, close to the original particle size of the starting powder. In respect to the application of the cutting tools, pure WC nanostructure resulted in a smaller cutting edge radius providing a higher quality of TiC/Fe machined surface. In the range of cutting speeds, vc = 15–40 m/min the durability of the inserts was 75% of that achieved by cubic boron nitride ones, and more than two times better than that of WC-Co cutting tools. In additional tests of machining 13CrMo4 material at an elevated cutting speed of vc = 100 m/min, binderless nWC inserts worked almost three times longer than WC-Co composites.