This paper presents a high performance triaxial cutting force sensor with excellent accuracy, favorable natural frequency and acceptable cross-interference for high speed turning process. Octagonal ring is selected as sensitive element of the designed sensor, which is drawn inspiration from ring theory. A novel structure of two mutual-perpendicular octagonal rings is proposed and three Wheatstone full bridge circuits are specially organized in order to obtain triaxial cutting force components and restrain cross-interference. Firstly, the newly developed sensor is tested in static calibration; test results indicate that the sensor possesses outstanding accuracy in the range of 0.38%-0.83%. Secondly, impacting modal tests are conducted to identify the natural frequencies of the sensor in triaxial directions (i.e., 1147 Hz, 1122 Hz and 2035 Hz), which implies that the devised sensor can be used for cutting force measurement in a high speed lathe when the spindle speed does not exceed 17,205 rev/min in continuous cutting condition. Finally, an application of the sensor in turning process is operated to show its performance for real-time cutting force measurement; the measured cutting forces demonstrate a good accordance with the variation of cutting parameters. Thus, the developed sensor possesses perfect properties and it gains great potential for real-time cutting force measurement in turning.