The anisotropy in mechanical strength and electrical conductivity in Cu-Ag alloy during cold rolling were investigated. The anisotropy in tensile strength and electrical conductivity was significant with increasing Ag content in Cu-Ag alloy. The cold rolled Cu-Ag alloys with higher Ag content have filamentary structure, which is composed of elongated eutectic phase and Cu matrix. In addition, the eutectic phase in Cu-Ag alloys with higher Ag content has a strong α-fiber texture. It can be mentioned that the eutectic phase in filamentary structure is promotes the anisotropy of electrical conductivity of Cu-Ag alloys. This strong a-fiber texture of eutectic phase was decreased by annealing process (300 OC for 1h), and the anisotropy in strength and conductivity was decreased.