In this study, rhenium-tungsten mixed particles with different content of rhenium have been prepared by spray-drying method followed by hydrogen reduction. Using such particles, the cathodes have been prepared by powder metallurgy followed by impregnating BaO, CaO, and Al2O3 with 4:1:1 molar ratio. After proper activation, electron emission test is performed in standard parallel-plate diode configuration. The emission results reveal that the Re-W matrix cathode containing 75% rhenium has the highest direct current emission density of 11.67 A/cm2 at 1000 °C. The work function of Re-W matrices has been investigated by density functional theory method in the frame of the generalized gradient approximation (GGA). The theoretical calculation results indicate that the work function of the matrix has limited contribution to the emission current density of Re-W matrix dispenser cathode. The in situ AES, SEM, and XRD were applied and the results reveal that the superior emission property of the 75Re cathode is owing to a plenty of nanoparticles and higher free barium concentration on the cathode surface, which is attributed to the Re3W single phase in 75Re matrix.