The invention discloses a cutter wheel for cutting a brittle material and a processing method thereof. The cutter wheel is provided with a V-shaped cutting blade part (1), a disc surface (2) and an axle hole (3), wherein the periphery of the chine line l at the external edge of the V-shaped cutting blade part (1) is provided with cutting blades (4) and recess structures (5), which are alternately-distributed; each cutting blade (4) comprises curved surfaces (Part a1 and Part a2), four side surfaces (a3, a4, a5 and a6) and V-shaped cutting edges (V-shaped cutting edge 1, V-shaped cutting edge 2 and V-shaped cutting edge 3)of which the included angles are respectively psi1, psi2 and psi3; and the disc surface (2) and the axle hole are provided with grid-line grooves (6), and the cutting blades (4), the recess structures (5) and the grid-line grooves (6) are obtained by the processing in a laser scanning mode. The cutter wheel with the new structure can avoid or reduce the condition that the cutter wheel is blocked when the cutter wheel with other structures cuts the material, and can prevent the material from producing radial cracks, thereby prolonging the service life of the cutter wheel and simultaneously obtaining the high-grade cutting sections. Besides, the inner walls of the grid-line grooves (6) are coated with solid lubricant, thereby well solving the lubrication problem.