Based on the variation of the actual cutting depth during the grinding process, a 3D finite element (FE) simulation model for grinding nickel-based superalloy GH4169 with single abrasive was initially constructed. Then the morphological evolution of the grinding chips during the grinding process was studied. In addition, the effect of the single abrasive cutting depth and the grinding speed on chip morphology and segmentation frequency was investigated. Finally, experimental results with the same test parameters verify the finite element simulation results. The results showed that in the experimental grinding speed range, the sawtooth lamellar chip with the free surface being serrated and the contact surface being smooth due to the extrusion of the abrasive is easy to produce when grinding nickel-based superalloy GH4169. As the grinding speed increases, the chip morphology changes from a unitary lamellar chip to a continuous serrated chip, developing into a continuous ribbon chip. The chip segmentation frequency is mainly determined by grinding depth and grinding speed. To be specific, the smaller the grinding depth and the greater the grinding speed, the greater the chip formation frequency.