High-speed milling (HSM) has many advantages over conventional machining. Among these advantages, the lower cutting force associated with the machining process is of particular significance for Nitinol alloys because their machined surfaces show less strain hardening. In this article, a systematic study has been carried out to investigate the machining characteristics of a Ni50.6Ti49.4 alloy in HSM. The effects of cutting speed, feed rate, and depth of cut on machined surface characteristics and tool wear are studied. It is found that an increase in cutting speed has resulted in a better surface finish and less work hardening. This is attributed to the reduction of chip cross-sectional area or chip thickness, which thus leads to a lower cutting force or load.