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Titanium alloys are increasingly employed in the aerospace sector. Thus a better understanding of its behavior during machining process is needed in order to improve the productivity and reduce manufacturing costs. When machining titanium alloys, tool wear is associated to diffusion and attrition mechanisms, and thus stresses and temperature on the tool rake and clearance faces are relevant parameters to be measured. In most of the cases experimental approach is employed to better understand the behavior of cutting tools during titanium machining, but measurements of stresses and temperature not possible at this stage. Although having still many drawbacks, Finite Element Modelling of chip formation process has become a promising tool to understand machining process, and thus to help improving it. The commercial software Advantedge is employed to better understand the chip formation process when drilling Ti64 alloy. Analysis of cutting forces, temperatures and stresses carried out for several working conditions (cutting speed, feed rate, cutting tool edge radius...) in 2D. Force and temperature results are compared qualitatively against empirical ones carried out in previous reseasrch works in orthogonal conditions (2D) and 3D.