In this paper, a new kind of Sn-Bi lead-free solder was fabricated via rapid solidification method by adding a series of microelements which can optimize the properties of Sn-Bi solder. When the solder was manufactured by Single Roller Melt Spinning Process, the faster the cooling rate is, the better the effect of restraining Bi segregation is. When the melt spinning rate was up to 1000 rpm, it had the best result. The effects of microelements on the melting characteristics, microstructure and properties of the new solder were also systemically studied. The results show that when the added content of Ag is 0.7%, Cu 0.3%, Ge 0.1%, In 0.5% and Sb 0.5%, the microstructure of the solder is fine, the extent of Bi segregation obviously decreases and the mechanical property is similar to that of Sn-37Pb solder. The melting point of the new solder is close to that of the Sn-37Pb solder. The mechanical and soldering properties are also similar to that of it.