Copper-10 wt. % tungsten alloyed powder was obtained by co-reduction of mixed tungsten-trioxide and copper oxide powders at 973 K for 7.2 Ks. In the alloy obtained by pressure-assisted sintering of this co-reduced powder, ultra fine tungsten particles (about 100nm) were dispersed uniformly in the copper matrix. At room temperature, the hardness of this alloy was Hv151 and the electrical conductivity was 85% IACS. After annealing at 1173 K for 3.6 Ks, the hardness and electrical conductivity were Hv147 and 84% IACS, respectively, and were same as before annealing. It was confirmed that the hardness and electrical conductivity of this alloy were hardly influenced by annealing condition since the microstructure of this alloy is highly stabilized.