In this paper, a novel Cu-0.60Cr-0.20Nb-0.05Si-0.02Ca-0.02Ce (CCNSCC, wt.%) alloy is designed. By comparing the differences in the properties and microstructure with the Cu-0.60Cr-0.20Nb (CCN, wt.%) alloy under the same process, the effects of trace Si, Ca, and Ce elements on the CCNSCC alloy are disclosed. After undergoing cold rolling by 80% and aging at 450 °C for 60 min, the CCNSCC alloy exhibits a tensile strength of 524 MPa and a softening temperature of 600 °C. These values represent an increase of 104 MPa and 90 °C respectively compared with the CCN alloy. After a multi-stage combined thermo-mechanical treatment including preaging at 400 °C for 30 min, the tensile strength and electrical conductivity of the CCNSCC alloy reach 618 MPa and 75.2%IACS respectively. Microstructure analysis shows the existence of rod-like and polygonal Cr8Nb3Si particles, as well as globular, ellipsoidal, and crescent-shaped (Ca,Ce)Cu5 particles. During the process of aging, the precipitation of the Cr phase occurs at the phase boundaries of Cr8Nb3Si particles. Additionally, significant quantities of fine Cr particles at the nanoscale surround the Cr8Nb3Si particles, exerting a beneficial influence on the strength and electrical conductivity of the CCNSCC alloy. Besides, the CCNSCC alloy has finer Cr particle size and lower volume fraction of recrystallized grains after aging in comparison to the CCN alloy. This indicates that the addition of trace Si, Ca, and Ce elements significantly inhibits the growth of Cr particles and occurrence of recrystallization. Plenty of dislocations are observed in different states of the CCNSCC alloy, and their interaction with the Cr precipitates is the primary factor contributing to the excellent mechanical properties of the CCNSCC alloy. The findings of this study provide valuable insights for improving the properties and microstructure of Cu–Cr–Nb alloys.