The present study focused on the synthesis of Bi-Sb-Te-based thermoelectric powder by an oxidereduction process. The phase structure, particle size of the synthesized powders were analyzed using XRD and SEM. The synthesized powder was sintered by the spark plasma sintering method. The thermoelectric property of the sintered body was evaluated by measuring the Seebeck coefficient and specific electric resistivity. The $Bi_{0.5}Sb_{1.5}Te_3$ powder had been synthesized by a combination of mechanical milling, calcination and reduction processes using mixture of $Bi_2O_3$, $Sb_2O_3$ and $TeO_2$ powders. The sintered body of the $Bi_{0.5}Sb_{1.5}Te_3$ powder synthesized by an oxide-reduction process showed p-type thermoelectric characteristics, even though it had lower thermoelectric properties than the sintered body of the $Bi_{0.5}Sb_{1.5}Te_3$ thermoelectric powder synthesized by the conventional melting-crushing method.