The effect of severe plastic deformation on the structure, strength, and electric conductivity of a Cu-Cr copper-based alloy has been studied. In ultrafine-grained specimens produced by severe plastic deformation by torsion and equal-channel angular pressing, the average grain size has been determined and particles of precipitates have been identified. The dependences of the strength and electric conductivity on conditions of severe plastic deformation and subsequent heat treatment have been assessed. The effect of dynamic aging in the Cu-Cr alloy has been found that leads to an increase in both the strength and the electric conductivity. It has been found that the ultrafine-grained alloy can demonstrate a combination of a high ultimate strength (790–845 MPa) and an increased electric conductivity (81–85% IACS).