A new approach to the design of stepped milling cutters is proposed, based on computer-aided multi-criteria optimization in interactive mode. The criteria proposed for assessing tool efficiency are the total power of the periodic cutting force harmonics, the tool life, the cutting-zone temperature, the removal rate and job quality, and the specific tool material consumption. The proposed approach is illustrated by the example of a cbn-tipped 3-step mill used for machining KhVG steel (HRC 45-60).