In this paper, dry machining experiment of Ti-6Al-4 V was carried out to investigate the machining performance of a grooved tool in terms of its wear mechanisms and the effects of cutting parameters (cutting speed, feed rate, and cutting depth) on tool life and surface roughness of the machined workpiece. The results showed that chip-groove configuration substantially improved the machining performance of cutting tool. The main wear mechanisms of the grooved tool were adhesive wear, stripping wear, crater wear, and dissolution-diffusion wear. The resistance to chipping was enhanced due to the decrease of contact pressure of tool-chip interface. And the resistance to plastic deformation of tool nose was weakened at the cutting speed of more than 60 m/min. The appropriate cutting speed and feed rate were less than 70 m/min and 0.10 mm/r, respectively. With cutting speed increasing, the surface roughness of machined workpiece decreased. A high feed rate helped the formation of higher surface roughness except 0.21 mm/r. When cutting depth increased, tool nose curvature and phase transformation of workpiece material had great impact on surface roughness.