The variation in the machining performance of different types of nanoparticles and cutting fluids on various materials requires investigation. In this study, machining performance was evaluated in terms of resultant force, cutting temperature, surface roughness, and material removal rate using three different cutting speeds and three different feed values under vegetable cutting oil minimum quantity lubrication (MQL) and nano MoS2-added vegetable cutting oil MQL (N-MQL) in turning AISI 1040 steel. Afterward, the appropriate process parameters were sorted and selected, and the combined compromise solution (CoCoSo) method was applied. Resultant force, cutting temperature, and surface roughness are all improved by 54.2%, 28.2%, and 72.1%, respectively, when employing N-MQL rather than MQL cutting environments. When the resultant force, cutting temperature, surface roughness, and material removal rate are weighted equally, the most suitable cutting parameters are determined as 160 m/min cutting speed and 0.08 mm/rev feed value, and the best cutting environment is N-MQL.