By optimizing formulation and fabrication methods, a new binder for plasticizing powder extrusion molding ofhard metal, with excellent integrated properties and uniform distribution characters, has been developed. Thermal debond-ing mechanism and the extruding rheological behaviours have been studied. The technology of fabrication of binder andthermal debonding process have also been investigated. Using the novel binder, the hard-metal extrusion-molding rods withdiameter up to 25mm, have been manufactured.