In order to optimize the geometric parameters of cutting edge for the finishing machining of 30Cr alloy steel, a two-dimensional (2D) finite element (FE) model of orthogonal cutting was built with FE software AdvantEdge. The optimized methodology of the cutting edge geometric parameters was likewise proposed based on the simulated results. Thereafter, the geometric parameters of the cutting edge were optimized based on a comprehensive criterion that combines chip deformation coefficient and tool stress. The chip deformation coefficient indirectly determines the surface roughness, whereas tool stress determines tool wear, thereby affecting the dimensional precision of the components. The rake angle ranges from 12∘ to 20∘, while the cutting edge radius ranges from 12μm to 20μm in the optimization process. The optimal rake angle for the finishing machining 30Cr alloy steel is 16∘, while the optimal cutting edge radius is 14μm with a given relief angle of 7∘.