Optimization of tool life is required to tune the machining parameters and achieve the desired surface roughness of the machined components in a wide range of engineering applications. There are many machining input variables which can influence surface roughness and tool life during any machining process, such as cutting speed, feed rate and depth of cut. These parameters can be optimized to reduce surface roughness and increase tool life. The present study investigates the optimization of five different sensorial criteria, additional to tool wear (VB) and surface roughness (Ra), via the Tool Condition Monitoring System (TCMS) for the first time in the open literature. Based on the Taguchi L9 orthogonal design principle, the basic machining parameters cutting speed (vc), feed rate (f) and depth of cut (ap) were adopted for the turning of AISI 5140 steel. For this purpose, an optimization approach was used implementing five different sensors, namely dynamometer, vibration, AE (Acoustic Emission), temperature and motor current sensors, to a lathe. In this context, VB, Ra and sensorial data were evaluated to observe the effects of machining parameters. After that, an RSM (Response Surface Methodology)‐based optimization approach was applied to the measured variables. Cutting force (97.8%) represented the most reliable sensor data, followed by the AE (95.7%), temperature (92.9%), vibration (81.3%) and current (74.6%) sensors, respectively. RSM provided the optimum cutting conditions (at vc = 150 m/min, f = 0.09 mm/rev, ap = 1 mm) to obtain the best results for VB, Ra and the sensorial data, with a high success rate (82.5%).