The object of the present invention is to provide a method for the manufacturing of a cutting material possessing excellent toughness and a high strength. The composition by weight of the Nickel alloy ingot, is chromium (Cr )14-23%, molybdenum (Mo) 14-20%, tungsten (W) 0.2-5%, iron (Fe) 0.2-7%, cobalt (Co) 0.2-2.5% with the remaining portion being made up of Ni and unavoidable impurities. After undergoing a solution heat treatment process, the Ni ingot undergoes plastic working, at a product ratio above 80%, followed by heating at a temperature of 500.degree.-600.degree. C. for longer than 30 minutes. Heating the alloy of the aforementioned composition at the above mentioned temperature promotes the precipitation of an intermetallic compound possessing a hardness greater than 57 on the HRC. The resulting superior cutting material is resistant to corrosion even when exposed to sea water. The cutting material obtained through the process of the present invention provides a high resistance to both rust and chipping in addition to a high abrasion resistance, all of which are advantages over the conventional stainless steel cutting material.