Cu–0.81 mass%Cr–0.12 mass%Zr alloy was spun into ribbon and then aged at different temperatures for different time. The microstructure, microhardness and electrical conductivity were investigated. It is found that the mother alloy ingot solidified under conventional conditions consists of three phases: Cu matrix, Cr and Cu5Zr. Rapid quenching makes Cr and Zr fully dissolve into the copper matrix. As the aging proceeds, Cr and Cu5Zr phases precipitate again from the matrix. The ribbon aged at 773 K for 15 min possesses the best property: a microhardness of 212 HV and an electrical conductivity of 78.9% IACS. Compared with the conventional process (homogenization treatment of a bulk alloy ingot followed by aging), the use of rapid quenching doubles the microhardness while only slightly decreasing the electrical conductivity.