The distribution of major elements Co, Mo, Mn, Gr etc and trace elements Al, Ti, Ce, La etc and the effects of their compounds on properties of high density alloy were analyzed respectively. The effects of elements in alloy are refining grains, strengthening binder, strengthening tungsten grains, increasing the interface bonding, improving wetting power between binder and tungsten grains and affecting the distribution and morphology of impurities. The distribution characteristics of impurities and their compounds on boundaries were reviewed. Phorsphor which segregates on the boundaries with free state or compounds results in the fragility of the alloy and increasing the sintering activation ability. Hydrogen will also results in fragility by decrease the bonding strength of interface. Minor carbon will decrease the segregation of P, but with increasing carbon content, the dynamic tensile strength of alloy will decrease.