With the increasing complexity of the workpiece surfaces in aerospace and automotive molding and other areas, an increasing number of cutting tools with different shapes and performance have become necessary. A new kind of cutting tool is developed with a double-arc revolving surface at the tool’s end to improve the processing quality in numerical control milling, referred to as a double-arc cutting tool (DACT) in this paper. The parametric geometric model of the DACT is established. Three types of cutting-edge curves are proposed (a cutting edge with a constant helix angle, a cutting edge with a constant pitch, and an orthogonal spiral cutting edge). Corresponding numerical simulation results are also provided as graphical representations. A DACT is manufactured and tested to verify its feasibility. Finally, two contrast experiments are conducted to prove that DACT has a higher processing quality than a ball-end mill (BEM). The advantage of the DACT is verified, which provides a theoretical basis for higher quality machining. The parametric design and application research provides a new method and theoretical basis for other new types of cutting tools.