The effect of aging treatment on the mechanical properties, the electrical conductivity and the microstructure of Pd-Ag-Sn-In-Zn alloy were studied. The result show that the aging process of the alloy after solution treatment and cold deformation was controlled by both precipitation of the supersaturated solid solution and recrystallization of the matrix. The high strength comes from strain hardening and precipitation strengthening. The change of electrical resistivity was effected by the precipitation and the recrystallization.