Abstract: The microstructure, melting performance and mechanical properties of Sn-43.5Bi-27Pb alloy with different Gd contents were studied using scanning electron microscopy（SEM）, differential thermal analysis（DTA）, and X-ray diffraction（XRD）. The results show that the alloy contains three phases, namely Sn phase, Bi phase, and Pb₇Bi₃ intermediate phase. Its melting point is 96.5 ℃, the tensile strength is 55 MPa, and the elongation is 52.1%. The tensile strength of Sn-43.5Bi-27Pb-xGd（x=0.2, 0.5, 1.0, and 4.0） alloy is slightly lower than that of Sn-43.5Bi-27Pb low melting point alloy. When x=0.2, the phase composition of the alloy is the same as that of Sn-43.5Bi-27Pb alloy. When x =0.5 and x =1.0, the alloy has more Gd phases, while when x=4.0, the alloy has more Gd and Bi₃Gd₅ phases. As the Gd content increases, the melting range gradually narrows. When the Gd content is 1.0wt%, the microstructure and properties of the alloy are the best, with a minimum melting range of 12.72 ℃. Compared with Sn-43.5Bi-27Pb alloy, the melting range decreases by 2.48 ℃, and its tensile strength,elongation, and microhardness are 49 MPa, 47.5% and 29.35 HV, respectively. After cold rolling followed by aging, when the Gd content is 0.5wt%, the microstructure and properties of the alloy are optimal, and the elongation is increased by 50.1% compared with those without cold rolling followed by aging.