Tools have remained an integral part of the society without which stimulation of certain aspects of human evolution would not have been possible. In recent times the modern tools are used in the manufacturing of high precision components. We know that the accuracy and surface finish of these components can be achieved only by the usage of accurate tools. Sharp edged tools may loosen their sharpness due to repeated usage and machining parameters. Hence to address this issue we propose a system to monitor tool wear by using the captured image of cutting tool tip. We used vision system since it is the primitive method of predicting tool wear and two main machining parameters feed rate and depth of cut. The image of flank wear cutting edge at tool tip is captured by examining under profile projector. The system uses linear regression model to calculate tool wear which is mapped onto continuous 2-D coordinates with feed rate and depth of cut as axis from a captured digital image. Thus the proposed intelligent system uses profile projector and digital image processing methods to estimate tool wear continuously and predictively like humans rather than using strict rules. By estimating tool wear continuously the machine can better perform and machine components accurately by using the resultant values of feed rate and depth of cut as a threshold which are arrived as a result.