In this paper, in order to develop the low temperature sintering ceramics for multilayer piezoelectric transformer, PMN-PZT ceramics were manufactured with the variations of sintering times, and their microstructural, piezoelectric and dielectric properties were investigated. Li$_2$CO$_3$ and Bi$_2$O$_3$ were used as sintering aids and the specimens were sintered during 30, 60, 90, 120, 150, and 180 minutes, respectively. At the specimen sintered during 90 minute, mechanical quality factor(Qm), electro-mechanical coupling factor(kp) and dielectric constant were showed the optimum values of 2,356, 0.504 and 1,266, respectively.