The purpose of this study is to improve the properties of the feedstocks and shape retention of debinded parts by the reaction between 17-4PH stainless steel powders. Carboxyl-terminated hyperbranched polyester (CTHP) and epoxy-terminated hyperbranched polyester (ETHP) were used to treat the powders, and termed as CTHP-m and ETHP-m with carboxyl and epoxy group, respectively. Comparing with pristine, CTHP-m and ETHP-m, feedstock prepared from equal amount of CTHP-m and ETHP-m (CTHP-m/ETHP-m) possessed more excellent properties. The experimental results showed that the critical solids loading, flexural modulus, density and melt flow index of CTHP-m/ETHP-m feedstock were 63.8 vol.%, 2800 Mpa, 5.06 g/cm3 and 62 g/10min, respectively, which were obviously higher than that of others. Also, the shape retention of CTHP-m/ETHP-m debinded parts was the best of all the samples. The improved properties of CTHP-m/ETHP-m feedstock were attributed to the powder interaction between CTHP-m and ETHP-m formed by the chemical reaction between epoxy and carboxyl group.