Bearings are widely used in different industries which demand different quality requirements to ensure a long life with low wear rates. In this sense, bearing components should present combination of low surface roughness and tight dimensional deviations, as well as good lubricant retention capacity. So, grinding is an alternative to achieve this combination, however, one of the challenges is the large amount of heat generated in the grinding wheel-workpiece interface when using conventional abrasives grinding wheels, which can lead to surface finish deterioration and thermal damages, thereby reducing the component's life. Thus, several cooling-lubrication techniques have been tested in the past decades to enhance the cooling-lubrication properties of cutting fluids, with a highlight in recent years for the benefits of adding solid particles with good tribological properties to improve grinding efficiency. In this context, this work sought to evaluate the roughness and surface morphology of the bearing steel SAE 52100 (60 ± 2 HRC) after grinding with multilayer graphene (MLG) platelets dispersed in two different cutting fluids (synthetic and semi-synthetic). Tests with traditional MQL (without solid particles) and conventional techniques (flood) were also carried out for comparison. The output variables investigated were surface roughness parameters Ra, Rz, Rku, Rsk, Rk, Rpk, and Rv, images of machined surfaces through a scanning electron microscope (SEM), and the specific grinding energy. The results indicated that the base fluid type significantly affected the grinding performance. Tests with semi-synthetic fluid having MLG decreased the Ra parameter of the ground surface by 9% compared to the traditional MQL technique, with a higher Rvk and negative skewness. For the synthetic fluid also with MLG, about 29% increase in the Ra parameter was observed compared to MQL without nanoparticles, although it resulted in higher values of Rpk with more positive skewness. Presence of MLG in semi-synthetic and synthetic fluids reduced the specific grinding energy by 7% and 14%, respectively. Also, less intense plastic deformation and material adhesion was observed when grinding with MLG.