The Cu–Fe metal‐based ceramic grinding wheel material with SiC as abrasive was prepared by the powder metallurgy process of ball milling and hot pressing sintering. Cu–Fe–SiC cermets with Cu:Fe mass ratios of 4:1, 1:1, and 1:4 were designed by changing the composition of metal binder. The phase composition, microstructure, mechanical properties, and grinding properties of Cu–Fe–SiC cermets were systematically studied. The effect of Cu–Fe binder ratio on the microstructure and properties of cermets was analyzed. The results show that with the increase of Fe content, the density and hardness of cermets increase gradually, indicating that the mechanical properties are improved. Because the Fe in the adhesive can react with the abrasive SiC to form the reaction bonding interface, the Cu–80Fe–SiC cermets with higher Fe content have better adherence. The grinding test results of Cu–80Fe–SiC cermet show that the friction coefficient is .341, the surface roughness is 6.64 μm, the residual stresses parallel to the grinding direction are 353.3 MPa, and the residual stresses perpendicular to the grinding direction are 140.9 MPa. With the increase of Fe content, the wear mechanism changes from ploughing and cutting to friction.