Abstract: Aiming at the problems that metastable liquid-phase separation and element segregation easily take place during conventional casting of Cu-Fe alloys, and it is difficult to synergistically enhance strength and electrical conductivity, Cu-Fe alloys with Fe mass fractions of 2%–6% were fabricated via vacuum induction melting. The control-variable method was adopted to systematically study the regulation rules of Fe content, liquid holding time and oscillation current on the microstructure, microhardness and electrical conductivity of the alloys. The results indicate that with a fixed oscillation current of 60 A and holding time of 2 min, as the Fe mass fraction rises from 2% to 6%, the Fe-rich phase transforms from dispersed fine precipitates into dendrites. The alloy microhardness increases from 65.24 HV to 71.53 HV, whereas the electrical conductivity drops significantly from 39.96% IACS, reaching a minimum at 4% Fe content before slightly rebounding. Prolonging the holding time accelerates Fe diffusion and second-phase precipitation, which gives rise to continuous growth in alloy hardness. The electrical conductivity changes non-monotonically with holding time: it reaches a valley at 3 min holding time caused by massive nucleation of precipitates and intensified phase-interface scattering, and rebounds at 4 min holding time as precipitates coarsen and the phase-boundary area decreases. Increasing oscillation current strengthens electromagnetic stirring, refines the second phase and promotes composition homogenization, which greatly improves alloy hardness accompanied by a slight reduction in electrical conductivity. Within the scope of experimental parameters in this work, the Cu-2%Fe alloy prepared under 70 A oscillation current and 2 min holding time obtains a favorable strength-conductivity trade-off, with microhardness of 73.66 HV and electrical conductivity of 37.34% IACS. The findings can provide experimental support for vacuum melting preparation of low-cost high-performance Cu-Fe alloys.