The principle and characteristics of the rapidly solidified centrifugal atomization technique are studied in present paper. It has been widely used to make fine, rapidly solidified precious metal powders for application as the electrical engineering materials, conductive coatings for electromagnetic shielding and brazing alloys. The silver powder, copper powder and some precious metal alloys powders are prepared by the new method. A comparative analysis is carried out with the conventional electrolytic silver powder and chemical deposition silver powder. The results show that rapidly solidified powders are fine and have higher solid solubility of the alloying elements, and their alloys have excellent properties in various aspects.