We studied the effects of sintering temperature on FeCuCo based pre-alloyed powder for diamond bits. The FeCuCo composite was fabricated by co-precipitation method. With the addition of tungsten carbide (WC), sintering under different temperatures was investigated. Mechanical properties of the FeCuCo based matrix were systematically studied. The structure of the composite was evaluated by X-ray diffraction (XRD) and scanning electron microscope (SEM) was used to analyze the surface of the powder and matrix. The suitable sintering temperature was determined through differential scanning calorimeter (DSC). Micro drilling experiments were performed, and 820℃ was identified to be the ideal sintering temperature, at which the matrix shows the best mechanical properties and drilling performance.