The effect of thermomechanical treatments on the microstructures and properties of Cu-2.1Ni-0.5Si-0.2Zr alloy was investigated. The hot-rolled plates were solution treated at 920°C for 1.5 h, quenched into water, cold rolled by 70 % reduction in thickness, and then aged at 400, 450 and 500°C for various times. The variation in tensile strength and electrical conductivity of the alloy was measured as a function of the aging time. The results show the peak strength value of 665 MPa for the alloy aged at 450°C for 2 h. However, the electrical conductivity is observed to reach a maximum of 47 % IACS aged at 450°C for 8 h. OM, SEM, and TEM were used for microstructural inspection of the alloy. Precipitation occurs preferentially at deformation bands in the cold-rolled alloy. Properties behavior is discussed in the light of microstructural features.