Ti(C,N) matrix cermet tool material with good mechanical properties was fabricated by hot-press technology and the microstructure of the material was investigated with TEM, SEM and EDAX analysis. It was found from EDAX analyzing results that the element Mo is rich in the margin of Ti(C,N) particles and Cr element is rich in the interior of binding phase. It can be concluded that Cr3C2 particles distributed in the bonding phase and on the interface, intergranular fracture and cleavage strips on the fracture surfaces result in an increase in the fracture toughness of the fabricated cermet tool material.