The article presents the results of two interrelated studies. The first is related to assessing the possibility of using a water-polymer ultrajet as a diagnostic tool for cutting tools for the disposal of plastics. The second is related to the development of a directly new tool design. As a result of research, it was shown that both the method of water-polymer diagnostics and the proposed design of the knife have prospects for practical application. A model of a composite tool for the disposal of composites is proposed, which potentially has high operational properties. The research results are confirmed by the data of a comparative analysis of various diagnostic methods and strength calculations of the tool.