The disclosed cemented carbide base outer blade cutting wheel comprises a base in the form of an annular thin disc of cemented carbide, and a blade section on the outer periphery of the base. The blade section contains: diamond and/or CBN abrasive grains pre-coated with a magnetic material; a metal or alloy bond formed by electroplating or electroless plating for bonding abrasive grains together and to the base; and a metal or alloy binder having a melting point of up to 350° C. infiltrated between abrasive grains and between abrasive grains and the base. The method for manufacturing said outer blade cutting wheel is also disclosed.