Previous research has demonstrated deposition of MCrAlY coating via the cold spray process; however, the deposition mechanism of cold spraying has not been clearly explained-only empirically described by impact velocity. The purpose of this study was to elucidate the critical deposit condition. Microscale experimental measurements of individual particle deposit dimensions were incorporated with numerical simulation to investigate particle deformation behavior. Dimensional parameters were determined from scanning electron microscopy analysis of focused ion beam-fabricated cross sections of deposited particles to describe the deposition threshold. From Johnson-Cook finite element method simulation results, there is a direct correlation between the dimensional parameters and the impact velocity. Therefore, the critical velocity can describe the deposition threshold. Moreover, the maximum equivalent plastic strain is also strongly dependent on the impact velocity. Thus, the threshold condition required for particle deposition can instead be represented by the equivalent plastic strain of the particle and substrate. For particle-substrate combinations of similar materials, the substrate is more difficult to deform. Thus, this study establishes that the dominant factor of particle deposition in the cold spray process is the maximum equivalent plastic strain of the substrate, which occurs during impact and deformation.