Effect of two-step deforming and aging process on the properties and structure of Cu-Cr-Zr-Mg-Si alloy was investigated. The results show under the condition of same cold deformation, two-step deforming and aging processes can improve overall performance of the alloy. The hardness obtained by two-step deforming and aging process is higher 6%-9% than that by single-step deforming and aging. The hardness and conductivity are up to 160HV and 88.1% IACS respectively after 80 % rolling and reaging at 480°C for 30min. The particles precipitate along the dislocation and pin on the dislocation during the reaging. These finer particles distribute more uniformly in the copper matrix and result in the higher strength and electrical conductivity.