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Helical milling has been known as an innovative method for making high quality holes. In this method, milling tool generates efficiently a high quality hole by moving along a helical path. The hole diameter can be adjusted through the diameter of this helical path. Regarding accuracy of hole in industrial parts, it is necessary to compare this method with conventional hole drilling. Therefore, in this study helical milling and conventional drilling, have been compared with each other. Eight experiments were conducted considering two levels of cutting speed and feed rate on the samples made of AISI 4340 steel at 45 HRC. Minimum quantity lubricant system with two nozzles was used. 100 ml/h of Behran-11 mineral oil at air pressure of 4 bar was employed in this system. Machining forces, surface roughness, nominal diameter, roundness, and cylindricity were output parameters. According to the obtained results, cutting speed was the only one with positive effect on all qualitative parameters of the machined holes. On the other hand, independency of cutting parameters, helical milling lessened machining forces, surface roughness, and geometrical tolerances in compare with conventional drilling.