Abstract: An improved method for producing a copper alloy, wherein a molten metal consisting essentially of 1.0 to 8% by weight of Ni, 0.1 to 0.8% by weight of P, 0.06 to 1.0% by weight of Si, and a remainder of Cu and unavoidable impurities (or a molten metal consisting essentially of 1.0 to 8% by weight of Ni, 0.1 to 0.8% by weight of P, 0.06 to 1.0% by weight of Si, 0.03 to 0.5% by weight of Zn, and a remainder of Cu and unavoidable impurities) is quenched to solidify, at a cooling rate in the range from 10.sup.2 .degree. C./sec. to 10.sup.5 .degree. C./sec., and continuously cooling in succession said solidified metal to a normal temperature, to cause an intermetallic compound of Ni-P and Ni-Si to be finely and uniformly dispersed into the matrix material.