The influence of cold-worked and aging processes on the microstructures, mechanical properties and conductivity of Cu-Cr-Y alloy has been experimentally investigated. Samples were cut from ingot of Cu-0.8 wt.%Cr-0.05 wt.%Y alloy. They were solution-treated, cold rolled and aging treated. The results show that the Cu-Cr-Y alloy, with 70% deformation and aging at 480°C for 24min, can reach an excellent combination of microhardness and conductivity. The microhardness and conductivity is about 143HV and 84%IACS, respectively. The microstructures by transmission electron microscopy (TEM) show that the fine and dispersed distributed Cr precipitate, which form due to decomposition of the supersaturated solid solution during aging, is responsible for the peak maximum microhardness as it is predominantly present in the peak aged hardening condition.