Dies are widely used in various manufacturing processes and are considered one of the important aspects of manufacturing industries. DC53 die steel is a recently developed and improved die steel which has good material characteristics as compared with D2 die steel and is replacing D2 die steel due to its improved material characteristics. The wire electric discharge machining is widely used for its machining, because conventional machining is not suitable for its machining. The demand for shorter lead time with improved quality and precision has made die making a challenging task for die makers, and this becomes more challenging with new die steel such as DC53 die steel. For this reason, the Taguchi method is employed and the effect of various factors of high-speed wire electric discharge machining (HS-WEDM) on the machining characteristics such as material removal rate (MRR), kerf width, and surface roughness (SR) of DC53 die steel is investigated. The factors such as pulse on time (Pon), current intensity (C), pulse off time (Poff), and wire speed (WS) are selected. Taguchi L27 orthogonal array is selected for experimenting. Analysis of variance (ANOVA) is used to find the significant factor on each machining characteristic, while analysis of means (ANOM) of signal to noise (S/N) ratio is used to find the optimal value of factors for improving each machining characteristic. It is concluded that current intensity is most significant on MRR and SR, while pulse on time is most significant on kerf width. The optimal value of factors identified for achieving maximum material removal rate is 3-μs Pon, 5-μs Poff, 3-A C, and 11-m/s WS, while for achieving low surface roughness, optimal value of factors are 4-μs Pon, 9-μs Poff, 2-A C, and 9-m/s WS. Moreover, for achieving small kerf width, the factors should be set at the optimal value of 4-μs Pon, 9-μs Poff, 1-A C, and 7-m/s WS.