40 wt. %WC steel-bonded carbides were prepared by microwave sintering. The sintering behavior and mechanical properties of 40 wt. %WC-Fe were investigated in comparison with 0 wt. %WC-Fe. The green compact of 40 wt. %WC-Fe sintered at 1280 °C, the phase transition between WC and Fe is observed, generating new Fe2W2C phase. The phase transition promotes the densification of the sample, which plays a strengthening effect on the material. Microwave sintering possesses even quicker densification than conventional sintering, as well as substantially higher mechanical properties. The microhardness and bending strength of steel-bonded carbides prepared by microwave sintering are 10% ~ 20% higher than the conventional sintering. The microhardness of 40 wt. %WC-Fe is up to 544 HV, eight times higher than that of 0 wt. %WC-Fe and the bending strength of 40 wt. %WC-Fe is three times higher than that of 0 wt. %WC-Fe. Strengthening mechanism of 40 wt. %WC-Fe samples is that the Fe2W2C rigid phase dispersed over the steel matrix is not deformation, and plays the effect of hindering dislocation motion. The fracture mode is mixed intergranular fracture and transgranular fracture, belonging to brittle fracture.