The ionized air assisted cutting is a cutting method, in which the ionized air is jetted to the cutting zone to achieve a lubricating and cooling effect. Friction and wear tests together with cutting tests of 304 stainless steel were conducted in the atmospheres of air, air jet, ionized air jet and nitrogen plasma jet, respectively. The results prove that the ionized air jet has a favorable cooling and lubricating performance. The friction coefficient decreases by about 46% compared with dry friction. The cutting force and the flank wear decrease by about 24% and 69%, respectively, compared with the dry cutting. The adhesive wear and the build up edge also decrease significantly, and the friction and wear performance and the machinability of 304 stainless steel are remarkably raised.