This paper made a thorough investigation on (Ba,Sr,Pb) TiO3-BaPbO3 system compound PTC ceramic. The optimum compound method is determined by lots of experiments in different compound schemes. Also the formula and process are optimized and improved. The best properties acquired are: ρroom-temperature=18.8Ω·cm, ρmax/ρmin >103. In the end, the phenomena in the experiment are illustrated with electron trap model.