A cermet cutter material comprises, by mass percentage, 70-90% of TiNC, 4-10% of Cr2C3, 1-2% of MoC2, 4-20% of Ni, and 0.4-1% of Y. A cermet cutter is made from the cermet cutter material. A manufacture method of the cermet cutter comprises: S1, preparing raw materials according to the formula of the cermet cutter material; S2, grinding the raw materials into powder, and drying the powder; S3, adding a forming agent to powder and performing granulation; S4, performing compression moulding to granules to obtain a cutter blank; S5, sintering the blank; and S6, performing coarse grinding, fine grinding and polishing to the sintered product to obtain the cermet cutter. The cutter made from the cermet cutter material is high in hardness, large in fracture toughness and flexure strength, and good in oxidation resistance and durability.