The microstructures and properties of AgCuO composites were researched after severe plastic deformation. The results showed that CuO particles secondly were dispersed along with increasing of true strain. The purpose of microstructure homogenization was achieved. The value of density, tensile strength and resistivity was increasing along. The value of hardness was reduced. The value of the elongation was increasing before true strain 8.0 and decreasing after true strain 8.0 in AgCuO composites.