The invention discloses a diamond coating cutter, and a preparation method and the application thereof in high speed graphite processing. The diamond coating cutter comprises a cutter tip, a blade and a clamping cutter holder, wherein the clamping cutter holder is made of a hard alloy matrix, the cutter tip and the blade are coated with diamond coatings on matrix materials, the diamond coating cutter is characterized in that the end cutting edge front angle gamma o1 of the blade is 2 to 6 degrees, the end cutting edge rear angle alpha 1 is 5 to 13 degrees, the peripheral cutting edge front angle gamma o2 is 5 to 15 degrees, the peripheral cutting edge rear angle alpha 2 is 10 to 14 degrees, and the helical angle beta is 15 to 45 degrees. The diamond coating cutter provided by the invention has the characteristics of high hardness, wear resistance, low friction coefficient, good heat conduction and the like, is suitable for high speed graphite processing, can effectively overcome frictional wear caused by graphite dust to the surface of the cutter, and is classified as an ideal cutter for cutting graphite.