In the study, the friction stir processing (FSP) method was used to modify the surface layer of a tin-based bearing alloy. The modification was aimed at extending the service life of bearings by improving their tribological properties. The results of investigations of the microstructure, hardness and tribological properties of the SnSbCu bearing alloy after FSP using various rotational speeds of the tool—280, 355, 450 and 560 RPM—and the constant traverse speed of 355 mm/min are presented. Particular attention was paid to the possibility of changing the morphology of the precipitates present in the alloy, and to the impact of this parameter on improvement of the tribological properties. The research carried out in this paper covered investigations of the microstructure using light and scanning electron microscopy (SEM) along with analysis of the chemical composition in micro-areas and Brinell hardness tests. Additionally, the sizes of the SnSb and CuSn precipitates present in the microstructure before and after the modification process were determined, as were the tribological properties under technically dry friction conditions and lubrication with TU 32 oil. It was proven that using friction stir processing favors refinement of the microstructure and improves the tribological properties of the analyzed alloy.