The use of carbon fibre reinforced plastic (CFRP) composites is increasing rapidly especially in applications demanding high performance such as aerospace structural components. Edge trimming of CFRP parts is essential for controlling the dimensional tolerances and/or the product quality to meet the industrial standards or specification. This article investigates the ultrasonic-assisted edge-trimming of multidirectional CFRP laminates in minimum quantity lubricant (MQL) environment. Statistical analysis was conducted to assess the effect of process parameters on the performance indicators. Cutting speed, feed rate, and radial depth of cut were selected as process parameters while the key performance characteristics were cutting forces, bouncing-back, material removal rate (MRR), and surface integrity in terms of surface roughness (Ra, Rz) as well as delamination. The most significant process parameter affecting each performance characteristic was determined using ANOVA test. Regression equations were also developed to predict the magnitude of bouncing back and MRR.