Machinability is a generalized framework that attempts to quantify the response of a workpiece material to mechanical cutting, which has been developed as one of the key factors that drive the final selection of cutting parameters, tools, and coolant applications. Over the years, there are many attempts have been made to develop a standard evaluation method of machinability. However, due to the complexity of the influence factors, i.e., from work material and cutting tool to machine tool, that can affect the materials machinability, currently there is no uniquely defined quantification of machinability. As one of the outcomes from the CIRP's Collaborative Working Group on “Integrated Machining Performance for Assessment of Cutting Tools (IMPACT)”, this paper conducts an extensive study to learn interacting machinability parameters to evaluate the overall machining performance. Specifically, attention is focused on recent advances made towards the determination of the machinability through tool wear, cutting force and temperature, chip form and breakability, as well as the surface integrity. Furthermore, the advanced methods that have been developed over the years to enable the improvement of machinability have been reviewed.