In recent years, the need for eco-friendly machining processes has increased dramatically in order to limit the excessive use of conventional cutting fluids, thereby reducing their negative effects on both environment and operator's health. In this context, dry cutting, minimum quantity lubrication (MQL) and nanofluid assisted MQL, as environmentally alternatives, have been positively shown their significance to overcome this problem. This experimental study was conducted from the perspective of performance analysis of machining characteristics in turning of AISI 304 austenitic stainless steel (ASS) under dry, MQL and nanofluids and hybrid nanofluids assisted MQL conditions with consideration of surface roughness (Ra), main cutting forces (Fc) and cutting temperature (T). In preparing the nanofluids, nano Molybdenum disulfide (MoS2), Multi-walled carbon nanotube (MWCNT) and nano graphene particles were added to the commercial vegetable cutting fluid as additives. Additionally, the effects of lubricating conditions on flank wear (VB) were investigated. In the end, statistical analysis, regression modeling and multi-criteria optimization based desirability function were performed. The results revealed that the Ra, Fc and T as well as VB were found to be lower with the use of nano graphene reinforced nanofluid assisted MQL followed by nano graphene/MoS2 reinforced hybrid nanofluid assisted MQL, MWCNT/MoS2 reinforced hybrid nanofluid assisted MQL, MWCNT reinforced nanofluid assisted MQL, nano MoS2 reinforced nanofluid assisted MQL and MQL, respectively, as compared to dry condition. Finally, it is worth mentioning that the nano graphene has the capability to perform as lubricant/coolant, thus contributing positively to the turning process.