When cutting wood, heat is generated in the cutting zone and in the gullet due to the friction between the teeth of the blade and the material that is being cut. Since the wood is hydrophilic, the saw blade cannot be cooled with liquids, as is usual when cutting metals. The only way to remove the heat from the source is by conductivity to the centre of the saw blade and then by convection into the air. This research presents an analytical model to calculate the natural frequencies of circular saw blades exposed to different temperature distributions. The model confirmed experimental findings of many authors, i.e. the heating of the saw blade cutting edge reduces its natural frequencies, the rate of the reduction depending on the temperature difference between the cutting edge and the rest of the blade and on the shape of the temperature distribution. In contrast, heating the centre of the saw blade increases its natural frequencies, the rate of increase depending on the temperature difference and the shape of the temperature distribution. With the presented model, the most favourable temperature distribution can be calculated from the point of view of the critical saw blade speed, which can be achieved by heating or cooling the centre of the saw blade.