Cu–Co–based alloys are the new generation of metal matrix for diamonds by powder metallurgy processed cutting tools. These alloys are created with the purpose of reducing the cobalt content in diamond tools. Cu-Co-based alloys matrix were fabricated using a hot pressing process at the temperature of 710°C , 750°С and 790°С by 15 MPa. Structures formed during sintering were studied by XRD and WDS. Micro-structural aspects were observed by EPMA. Densification, hardness, yield strength and compressive yield strength were performed. The results showed as follows: Cu-Co-based alloy matrix is composed by gray pre-alloyed particles, Cu-Sn binary solid solution, copper-rich phase and interface between particles and matrix; The higher sintering temperature, the more dendrite phase, in addition, the diffusion of carbon occurs; the holding force from matrix to particles becomes larger and the distribution of particles becomes more uniform; As the sintering temperature increased, the mechanical properties of Cu-Co-based alloy matrix enhanced.