An orthogonal experiment scheme was designed to investigate the effects of the Cu content, compaction pressure, and sintering temperature on the microstructures and mechanical and thermal properties of (30-50)wt.%Cu/ Invar bi-metal matrix composites fabricated via spark plasma sintering (SPS). The results indicated that as the Cu content increased from 30 to 50 wt.%, a continuous Cu network gradually appeared, and the density, thermal conductivity (TC) and coefficient of thermal expansion of the composites noticeably increased, but the tensile strength decreased. The increase in the sintering temperature promoted the Cu/Invar interface diffusion, leading to a reduction in the TC but an enhancement in the tensile strength of the composites. The compaction pressure comprehensively affected the thermal properties of the composites. The 50wt.%Cu/Invar composite sintered at 700 °C and 60 MPa had the highest TC (90.7 W/(m·K)), which was significantly higher than the TCs obtained for most of the previously reported Cu/Invar composites.