In this paper, a state-of-the-art review on cutting tool technology in machining of Ni-based superalloys is presented to better understand the current status and to identify future directions of research and development of cutting tool technologies. First, past review articles related to the machining of Ni-based superalloys are summarized. Then machinability of superalloys is introduced, together with the reported methods used in cutting tool design. The current researches on cutting tools in the machining of superalloys are presented in different categories in terms of tool materials, i.e., carbide, ceramics, and Polycrystalline cubic boron nitride (PCBN). Moreover, a set of research issues are identified and highlighted to improve the machining of superalloys. Finally, discussions on the future development are presented, in the areas of new materials/geometries, functional surfaces on the cutting tool, and data-driven comprehensive optimization.