Monofilament AgAu sheathed Bi-2223 tapes were fabricated by powder in tube (PIT) process. The influences of cooling rate during the second heat treatment process (HT2) on the phase composition, microstructures and transport properties of Bi-2223/AgAu tapes were systematically investigated. It was noticed that after the HT2 process, the content of Pb-rich Pb₃Sr_2.5Bi_0.5Ca₂CuO_y (3321) phase increased with the decreasing cooling rate, while the size of CuO phase particles became bigger. With the cooling rate decreasing from 600 °C /h to 1 °C /h, the critical current density, J_c increased from 7 kA/cm₂ to the maximum value of 11.5 kA/cm₂, which increased for 64%. Meanwhile the current capacities in magnetic field of these Bi-2223/AgAu tapes have also been enhanced with slow cooling process, attributed to the improvements of both the intergrain connectivity and the flux pinning properties.