The polymer-bonded powder was shaped by rubber isostatic pressing (RIP). The effects of process parameters of RIP on the properties of compact were studied. Results show that the process parameters of RIP have a great effect on the shape of compact and density distribution. The higher the pressure and initial relative density,the better are the properties of compact. At the pressure of 160 MPa and initial relative density of 62%,the axial density difference of compact is less than 0.4%,and the RIP tends to isostatic pressing and becomes a net shaping process.