For diamond saw web, the cobaltbased matrix of bits is adopted widely. People are devoting themselves to the study of substituting cobalt with iron and nickel for the matrix due to the expensive price of cablat. This paper aims at the existing drawbacks of ironbased matrix, provides some improvement measures, and then points out that general performances of ironbased matrix which is processed by trials after selected raw materials and determined the relative test conditions can meet the requirements of production.