Addressing the problem of high chemical oxygen demands (COD) of cutting fluid waste generated in the machining process, its complex composition, and the specific conditions required for the treatment process, a heterogeneous Fenton fibre catalyst (NZVI@ACF) made of nanometer-iron supported on activated carbon fiber using dip-molding was developed. NZVI was homogeneously loaded onto ACF surfaces to form NZVI@ACF, with a specific surface area (SBET) of 726.3642 m2/g. Using a multistage chemical pretreatment, the NZVI@ACF/H2O2 system was used to effectively treat cutting fluid waste. The results indicated that the rate of COD removal in the cutting fluid waste liquid pretreated with NZVI@ACF/H2O2 system was 99.8% when the reactions conditions were optimized to 20 nmol/L H2O2, 6 g/L NZVI@ACF, total reaction time of 120 min and pH 5. The treated waste solution passed China's tertiary wastewater discharge standards. NZVI@ACF/H2O2 demonstrated an excellent catalytic performance compared to the traditional Fenton catalyst, increased the effective pH reaction range and had an adsorption effect on the waste liquid after the reaction.