A Cu–Ag–Cr alloy was produced by means of vacuum induction melting. The effects of aging processes on microhardness and conductivity of Cu–Ag–Cr alloy were studied. The microstructure of the alloy was examined using transmission electron microscope (TEM). Aging at 450°C for 4h, the alloy has an excellent combination of microhardness and conductivity, the microhardness and conductivity reach 132HV and 80% IACS, respectively. The precipitates responsible for the age-hardening effect are fcc Cr. The fine and dispersed precipitates are fully coherent with the Cu matrix and make the Cu–Ag–Cr alloy possesses higher hardness and conductivity.