In this work, the advanced Cu-Fe-(C) alloys with dual-phase structure was prepared by combining a vacuum melting and rapid solidification. The microstructure evolution and deformation behaviors of Cu–Fe–(C) alloys in the different conditions were studied systematically by optical microscopy (OM), transmission electron microscopy (TEM) and mechanical properties test. The results show that, the addition of C element is beneficial to avoid the grain boundary segregation of the Cu-3wt%Fe alloy in the as-cast state, reduce the size of the fine γ-Fe phases and increase the number density in the matrix, so that the alloy has a lower yield strength and higher elongation; although most of the γ-Fe phases can be transformed into α-Fe phases after cold rolling at low temperature, resulting in the significant increased yield strength above 520MPa, yet, the addition of C can reduce the transformation rate of γ-Fe→α-Fe in the alloy during the cold rolling, and causing the higher elongation in this state; additionally, if the cold rolled alloys are aged at different temperatures for 1h, the hardness of the alloys decreases with increasing temperature, corresponding to the recovery and recrystallization; however, compared with 1# alloy, much more fine precipitates and remained dislocations can be found in the 2# alloy after aging at 400℃ for 1h, an finally resulting in the higher strengths and elongation. In addition, based on the TEM characterization on the precipitates in the alloys and the calculated strengthening contribution of them, the different strengthening mechanisms have been deeply discussed in this paper.