Ag-1.33Mg-0.54Ni (at%) alloy with high strength and high electrical conductivity, was subjected to accumulative rolling with 98% thickness reduction and internal oxidation, and studied by scan electron microscope (SEM) and X-ray diffraction (XRD). Conventional mechanical properties before and after internal oxidation were evaluated. Results show that the hardness, tensile strength, tensile elongation and electrical resistivity of the alloy after internal oxidation were 1350 MPa, 450 MPa, 6% and 1.73 μΩ·cm, respectively. Further, texture studies suggest that the alloy during internal oxidation had the {110}<001> Goss and {110}<112> Brass textures. A few of MgO and NiO precipitates in a silver matrix hindered the growth of Ag grains and kept the orientation of Ag grains quite stable and enhanced the mechanical properties of the alloy