The effects of the binder composition, powder loading, thermal properties of feedstocks, and the injection molding parameters on the compact shape retention for metal injection molding 17-4PH stainless steel were investigated. HDPE is more effective as a second component of the wax-based binder to retain compact shape than EVA due to its higher pyrolytic temperature and higher heat of fusion. The compact distortion decreases with the increase of powder loading, molding pressure and molding temperature. There exists a best process condition, including powder loading, molding pressure and molding temperature. Under this process condition, the lowest percentage is there of distorted compacts.