The microstructure and mechanical properties of compacts produced from hot-pressing the Co-29Cr-6Mo alloy powder, fabricated by gas atomization, were investigated in this study. The average diameter of the alloy powder is 41 μm. Electron probe micro analysis revealed that the concentration scattering of chromium and molybdenum is relatively small between the powders. The compact hot-pressed at 1273 K in Ar with an applied pressure of 80 MPa possesses the relative density of 97% and the fine grain (2.7 μm). The ultimate tensile strength of the compact is 1240 MPa, which is comparable to that of the forged Co-29Cr-6Mo alloy.