The microstructural characteristics of rapid solidified Cu-Pb hypermonotectic alloys were investigated by melt-spun method, the electrical resistivity and mechanical properties of the alloys were characterized, and the relationships between cooling rate and microstructural morphology as well as the properties of the alloys were analyzed theoretically. Results show that, under rapid solidification, (Cu) and (Pb) phases grow in the form of dendrite, which is characterized by uniform and fine equiaxied grain. With the rise of cooling rate, the equiaxied grain is refined remarkably, the amount of grain boundaries increase, the scattering of free electrons is intensified, leading to the increases of electrical resistivity. Meanwhile, the tensile strength of alloy foils increases linearly, but the elongation of alloys decreases.