Cu-Fe sintered material is prepared by PM technique, and the effect of Fe content on friction property of material and the relation between Fe content and the shape of the third body are investivaged by a constant speed friction test machine. The result indicates that as Fe content in the material increased, material density and porosity haven’t changed much, while material hardness obviously increased. When Fe content is about 20%, friction and wear properties are better because the optimum amount of Fe has the function of strengthening matrix. As friction speed increased, friction coefficient reduced; the cause lies in the fact that surface temperature rise reduces the density of Cu matrix and reduces mechanical meshing drag between micro-convex bodies due to poor thermal conductance of Fe. Simultaneously, due to friction alternating stress, rigid and fragile third body with advanced oxidization generates micro cracks, and the micro cracks continuously expand, and finally drop off; thus, the wear rate is increased.