PURPOSE: To improve the cooling effect of the frictional heating of cutting and grinding times, by embedding no diamond abrasive grain in a bonding member and bonding cutting edges in the stage capable of their contact with the atmosphere at all times.

CONSTITUTION: The peripheral edge part of the disk composed of the steel plate plated with a tungsten or molybdenum at the peripheral edge part 4A which joins the grinding part of the base part 4 consisting of a disk, is faced to the annular press die 2 fitted with a lower die 12. Then, into this press die 2 a mixed granule 10 with the metal or alloy power of good wettability in the inert gas atmosphere of a diamond abrasive grain 6 is charged. The whole press die 2 changed with this mixed granule 10 is vibrated, an annular upper die 16 is inserted into the press die 2 and a compression molding is executed. The compression molding body fixed to the annular peripheral edge part of the disk is then taken off, sintered in the temperature range of 1000°C under the inert atmosphere of argon, etc., and a desired strength diamond wheel is obtained.