Cemented carbides belong to a group of refractory hard material, with high wear resistance in which hard particles of carbide are adjoined each other by one metallic binder. Cemented carbides are normally produced by powder metallurgy. Usually tungsten carbide and cobalt are used as hard phase and binder phase, respectively. Cemented carbides are broadly used in various applications such as metal cutting, mining punching and cutting rocks. Although WC-Co are the most popular type of cemented carbide, they have limitations which have been the subject of many research works. Most researches are directed into ways of replacing cobalt totally or partially with other binder and replacing WC with harder phase of TiC and other carbides. In this research, in order to produce nanocomposite of WC-20wt.% (Fe, Co) mechanical alloying and liquid phase sintering were used. The effect of variation of mechanical alloying time, iron to cobalt ratio, sintering temperature on the product properties was investigated. X-ray diffraction, scanning electron microscopy analysis, hardness test, and transverse rupture strength and fracture toughness were employed to characterize the samples. When powder mixtures with 80wt.%WC and different Fe/Co ratios were milled for 25hs, even distribution of WC within binder phase was obtained in which WC grain size and particle size were less than 30 and 300nm respectively. By increasing the milling time in each compound, relative density after sintering increased and tungsten carbide particles had constant distribution and also in sample with equal ratio of iron to cobalt, after 25hr of milling and sintering at 1350 C for 1 hour, relative density reached to 98.2. Composite powder, produced by milling were compacted and sintered at 1350 C for 1h. The results indicated that WC grain size were less than 65nm. By increasing the milling time the hardness of samples after sintering increased and in sample with equal ratio of iron to cobalt, hardness reached to 1241 Vickers. Transverse rupture strength and fracture toughness of samples decreased with increasing the MA time. Characterization of nanocomposite WC-20wt.% (Fe, Co) with different percents of iron and cobalt in binder showed that sample with equal ratio of iron to cobalt had the highest value of relative density, hardness, rupture strength and fracture toughness equivalent with 98.2%, 1241 HV30, 2079.6 MPa and 21.7 MPa?m, respectively. Sintering of compacted nanocomposites resulted in evolution of undesirable eta phase. Eta phase could be almost eliminated by addition of carbon to the powder mixture prior to milling. By elimination of eta phase, Hardness and fracture toughness of optimal sample reached to1357HV30 and 24.9 MPa?m, respectively. Keywords: Cemented carbide, Tungsten carbide, Transverse rupture strength, fracture toughness, eta phase.