Molybdenum rhenium alloy has excellent mechanical and machining properties, and is a key structural material in fields such as electronics and nuclear industry. Adding zirconia to molybdenum rhenium alloy forms dispersion strengthening effect, and combined with deformation strengthening to improve the mechanical properties of the material. Research has found that the particle size of alloy powder decreases with the increase of ZrO₂ content, with the smallest and most uniform grain size at a content of 0.7%; ZrO₂ particles exhibit a pinning effect during the deformation and fracture process of the alloy, significantly improving its mechanical properties such as tensile strength, yield strength, and elongation after fracture. The tensile strength and elongation after fracture of ZrO₂ strengthened molybdenum rhenium alloy reach the highest value when the ZrO₂ content is 0.7%, and then decrease; ZrO₂ is basically dispersed at grain boundaries and forms a good bonding interface with the molybdenum matrix, which can inhibit the migration of grain boundaries and improve the deformation resistance of molybdenum alloys.