The properties of materials are intricately dependent on their chemical composition, and microstructures. Achieving a precise modulation in the composition and microstructure of materials to enhance properties significantly is a huge challenge. In this work, we uncovered the effects of nickel and silicon composition on the precipitates, dislocations, and properties of Cu–Ni–Si alloys. The results show that the volume fraction of precipitates increased from 0.84 % to 4.80 % with the increase of Ni and Si contents. The average diameter of the precipitates increased from 6.20 nm to 20.21 nm, and the dislocation density increased from 2.16 × 1013 m−2 to 4.08 × 1015 m−2 concerning the Ni and Si contents. In addition, the dislocation type changes from half-edge dislocation and half-screw dislocation to screw dislocation. The modified WHWA (Williamson Hall-Warren Averbach) method was proved to be the most accurate way of calculating dislocation density. As anisotropy was present in the alloy, adding a dislocation contrast factor and removing some lower-intensity diffraction peaks could further correct the obtained results and reduce the calculation error. Furthermore, the above analysis and findings were employed to design a Cu-3.21Ni-0.66Si alloy with a high yield strength (814 MPa), high ultimate tensile strength (970 MPa), and comparable electrical conductivity of 42.4 % IACS. This work offers a meaningful way to develop precipitation-strengthening alloys.