Accurate prediction of the grinding media wear is of significant interest to optimization of the milling process. As for that, a particle wear model is proposed in this work, which connects the shear impact energy with the surface's removed volume. Experiments and simulation results in a laboratory-scale planetary ball mill verify that the particle wear model can predict the increasing trend of particle wear rate with mill speed, and has good accuracy at high mill speed. In the experiments, the grinding bowl is filled with liquid water to isolate the air and cool the grinding balls, and related modification is added to the contact model. Then, the influence of friction coefficient, fluid, and the mill speed on wear rate is explored. The results revealed the influence of friction coefficient on particle wear rate, and it is found that drag force and torque from fluid would reduce the particle wear. Also, the influence of the mill speeds the planetary ball mill is related to the rotation-revolution radius. Finally, we conducted a preliminary study on the wear of the grinding media during the ore grinding process.