Owing to the popularization of coating technology, physical Vapor Deposition (PVD) coated tools have become indispensable in the cutting process. Additionally, the post-treatment of coated tools applied to industrial production can effectively enhance the surface quality of coating. To improve the processing performance of coated tools, micro abrasive slurry jet (MASJ) polishing technology is first applied to the post-treatment of coated tools. Subsequently, the effects of process parameters on the surface quality and cutting thickness of coating are investigated via single-factor experiments. In the experiment, the best surface roughness is obtained by setting the working pressure to 0.4 MPa, particle size to 3 μm, incidence angle to 30°, and abrasive mass concentration to 100 g/L. Based on the results of the single-factor experiments, combination experiments are designed, and three types of coated tools with different surface qualities and coating thicknesses are obtained. The MASJ process for the post-treatment of coated tools is investigated based on a tool wear experiment and the effects of cutting parameters on the cutting force and workpiece surface quality of three types of cutting tools. The result indicates that MASJ machining can effectively improve the machining performance of coated tools.