Adopting bonding technology, the giant magnetostrictive composites have been prepared. The effects of preparation conditions, such as powder composition, powder size, magnetic field orientation and powder surface treatment, on the static elastic modulus and compressive strength for the giant magnetostrictive composites have been investigated in this paper. It is found that the powder size and the powder surface treatment have obvious effects on the static elastic modulus and compressive strength, and few effect for the powder composition and the magnetic field orientation, but the powder composition has effects on the static elastic modulus.