Using 147 kinds of this ternary alloy, the equilibrium diagram has been thoroughly studied chiefly by thermal analysis and microscopic examination. In this ternary system, no ternary compound exists, while 3 binary compounds, Cu2Cd, Cu4Cd3 and CuCd3, 2 Ag-Cd binary solid solutions β and ε and 4 ternary solid solutions, Cu, Ag, δ and η exist. η ternary solid solution is formed by Cu5Cd8 and γ solid solutions. So there exist 9 primary crystallization surfaces and 14 monovariant curves, and along these curves the following reactions take place, Mono-variant reactions:(1) M_??_Cu+Ag, (2) M+Ag_??_β, (3) M_??_β+Cu, (4) M+β_??_η, (5) M_??_Cu+η, (6) M+Cu_??_Cu2Cd, (7) M_??_Cu2Cd+η, (8) M+Cu2Cd_??_Cu4Cd3, (9) M_??_η+Cu4Cd3, (10) M+η_??_δ, (11) M+η_??_CuCd3, (12) M_??_CuCd3+δ, (13) M+δ_??_ε, (14) M_??_Cd+CuCd3. In this ternary system, there exist 5 non-variant points, at which the following reactions take place at temperatures given. Non-variant reactions: (1) M+Ag_??_β+Cu, (712°) (2) M+β_??_η+Cu (620°), (3) M+Cu_??_Cu2Cd+η, (518°), (4) M+Cu2Cd_??_η+Cu4Cd3 (516°), (5) M+η_??_CuCd3+δ (329°), (6) M+δ_??_CuCd3+ε (318°).