With the aim of enhancing the precision and quality of turning processes, this study investigated cutting stress and thermal deformation induced by friction between the tool and chip of a Wolfram carbide (WC) tool cutting AISI-1045 carbon steel. Analysis of cutting stress and thermal deformation using COMSOL Multiphysics software is useful for evaluating the compensation for machining errors and reducing tool wear. Three cutting loads were adopted for the simulation of the thermal conduction, and changes in temperature and the stress field. Simulation results show that thermal deformation in the tool tip is proportional to cutting speed and time. As long as the temperature of the tool remains below the quasi-steady-state temperature, the amount of deformation does not change significantly. An understanding of the thermo-mechanical coupling effect during turning can help to improve the accuracy of compensation for thermal deformation in turning tools.