The stability and reliability of braking system are essential factors for the safe operation of high-speed trains. In the proposed work, tribological properties of a newly developed brake disc material namely BD-1 were studied considering the thermal-mechanical effects, as well as the evolutions of wear debris, were particularly examined. The tribological properties were also compared with an existing commercial brake disc material namely BD-2 in text. Friction and wear tests were carried out on BD-1 and BD-2 against a commercial brake pad material (BP) to simulate the real emergence braking conditions of a 350 km/h high-speed railway. The thermal-mechanical coupling effects of the friction velocity, wear mass, temperatures and the friction coefficient were investigated. Local wear track and wear debris were analyzed by using SEM and EDS. Results show that the shape and size of wear debris evolve as the dominant wear mechanism varies during braking tests. As the sliding speed increases from 250 to 1250 rpm, the debris may become fine particles, then into a mixture of lamellar shape and flake shape, and finally becomes fine particles again at high speed. The maximum size of wear debris is first from 20 μm to 65 μm, and then down to 10 μm. As the local area temperature increased by more than 400 °C, debris adhere to the surface forming an adhesive layer that may act as a lubricant. Debris may help to form an adhesive lubrication layer and undertake plastics defor-mation at the speed range of 500–1000 rpm. The local area temperatures prompted the wear debris adhesion and oxidation. After reaching a certain speed limit, a uniform third body appears to protect the material surface from high speed and high temperature. Results suggested that the BD-1 could be a good candidate braking material for high-speed railway applications.