Wear failure of cutting inserts is the main form of failure that occurs when cutting difficult-to-machine materials at high speeds. To obtain cutting inserts with outstanding tribological properties, multilayered cubic boron nitride (cBN) and nanocrystalline diamond (NCD) coatings (cBN/NCD) were prepared on WC-6 wt% Co tool substrates. The tribological properties of the multilayered cBN/NCD coatings were studied at different temperatures, and the results showed that the coefficient of friction (COF) and wear rate of the coatings were closely interrelated to the temperatures, and the COF gradually decrease and the wear rate gradually increase as the temperature increased from room temperature (25 °C) to 600 °C. The COF and wear rate of the multilayer coatings at 600 °C were ∼0.05 and 8.43 × 10−6 mm3/(N⋅m), respectively. The wear resistance of the cBN/NCD coatings was higher than that of TiAlN coatings and PcBN tool materials by more than 3 and 4.5 times, respectively. The high-temperature wear failure modes of the multilayered cBN/NCD coatings were abrasive wear, diamond graphitization, and BN hydrolysis. Coating wear accelerated when pores were formed on the cBN surface of a multilayered cBN/NCD coating due to the low nucleation density of diamond. These results would guide the application of cBN/NCD-coated cutting tools in high-speed cutting processes.