Copper-iron-based friction materials were prepared by powder metallurgy process. The effects of friction velocity and friction pressure on friction and wear behavior of the material under dry and wet friction conditions were investigated with a constant-speed friction machine. The results show that, at low speed friction, the dry friction coefficient is higher than wet friction coefficient and the friction coefficient increases with increasing friction pressure. The reason is that the water film plays an important role in cleaning and lubricating. At high speed friction, there is not much difference between dry and wet friction coefficients and the friction coefficient is not sensitive to friction pressure changes. This is due to the metal matrix high-temperature softening, caused by high speed friction, which controls the friction properties.