This paper mainly deals with the study on evaluate the quality and properties of diamond wheels systemically on basis of the actuality that there is no formal evaluate standard in China now. As the first step, this paper advances the theoretical mode of diamond wheel"s cutting work. The mathematical method is employed to build the relationship between the properties of diamond wheel and the component parameters of blade, as well as to calculate relate physical constants of diamond wheel"s cutting work. The calculate results are used as the guide to promote the component and the produce technology of diamond wheel. Secondarily, the main raw materials for producing diamond wheel are also preferentially selected. The chemical components of steel matrix are modified on basis of the national standard and its heat treatment technology is also promoted. This paper gives the main properties and corresponding quantitative index of diamond abrasive that should be considered for production. Thirdly, this paper promotes the manufacture technology of diamond wheel by altering the order, machine and the method to estimate evenness degree of the mix materials as well as the heat pressing sinter technology and makes the craft curve. The method, practical cutting test, is employed to evaluate the sharp degree, cutting efficiency and lifespan of diamond wheel comparing with the same type produce made by others factories. The results indicate that the sharp degree of our diamond wheel is not perfect and its lifespan is shorter than that of other produces without cooling water though its cutting efficiency approaches other produces. However, the cutting efficiency and lifespan of our diamond wheel increase obviously in the condition of cooling water presents. The hardness of blade is too high maybe the reason for affecting the sharp degree and cutting efficiency of diamond wheel. It damages the match between the blade matrix and the diamond abrasive. When the diamond abrasive has lost the work capability, the blade matrix is just wore down little. It is difficult for the diamond under the surface to come out i.e. the property of self-sharpen is bad. Meanwhile, the excessive friction phenomenon causes much heat and the burning damage of blade. The characterization results of structure and phase also support the analysis above. There is no cobalt in the blade matrix, but the effects approach that of cobalt presenting according to the characterization results of structure and phase. That suggests the idea that using multivariant alloying to substitute cobalt is feasible.