Diamond drilling has been widely used in the different civil engineering projects. The prediction of penetration rate in the drilling is especially useful for the feasibility studies. In this study, the predictability of penetration rate for the diamond drilling was investigated from the operational variables and the rock properties such as the uniaxial compressive strength, the tensile strength and the relative abrasiveness. Both the multiple regression and the artificial neural networks (ANN) analysis were used in the study. Very good models were derived from ANN analysis for the prediction of penetration rate. The comparison of ANN models with the regression models indicated that ANN models were much more reliable than the regression models. It is concluded that the penetration rate for the diamond drilling can be reliably estimated from the uniaxial compressive strength, the tensile strength and the relative abrasiveness using the ANN models.