During metal cutting, high temperatures of several hundred-degree Celsius occur locally at the cutting edge, which greatly impacts tool wear and life. Not only the cutting parameters, but also the tool material’s properties influence the arising cutting temperature which in turn alters the mechanical properties of the tool. In this study, the hardness and thermal conductivity of cemented tungsten carbides were investigated in the range between room temperature and 1000 °C. The occurring temperatures close to the cutting edge were measured with two color pyrometry. The interactions between cemented carbide tool properties and cutting process parameters, including cutting edge rounding, are discussed. The results show that cemented carbides with higher thermal conductivities lead to lower temperatures during cutting. As a result, the effective hardness at the cutting edge can be strongly influenced by the thermal conductivity. The differences in hardness measured at room temperature can be equalized or evened out depending on the combination of hardness and thermal conductivity. This in turn has a direct influence on tool wear. Wear is also influenced by the softening of the workpiece, so that higher cutting temperatures can lead to less wear despite the same effective hardness.