High speed steel T15 particle reinforced copper matrix composites were prepared using powder metallurgy. A systematic investigation was conducted into the effects on the microstructure and mechanical properties of the composites of the sintering temperature, T15 hard particle content, and particle size. The results indicate that the grain size is efficiently refined by the addition of T15 hard particles. The decrease in grain size of 10 wt% T15/Cu composite is from 6.87 μm to 1.34 μm at the same sintering temperature, and the grain size is proportional to both the sintering temperature and the size of hard particles. As the sintering temperature increases, the relative density and hardness of the composite gradually increase, while the yield strength initially increases and then declines. When sintered at 790 °C, the 10 wt% T15/Cu composite achieved a maximum yield strength of 160.1 MPa, which is 178.9 % and 30.6 % higher than that of pure copper and 10 wt% TiC/Cu composites, respectively. There are no visible cracks after compression, and a good balance of strength and toughness is achieved. Meanwhile, the primary contributions of strengthening mechanisms such as grain refinement, thermal expansion mismatch and load transfer to the mechanical properties of T15/Cu composites were analyzed. It is anticipated that this will establish a foundation for the preparation and application of high-performance copper matrix composites reinforced with metal particles.