The present paper reports results from the study of morphology, phase composition, and microstructure of Pd-Ag alloy powder obtained by potentiostatic pulsating electrolysis. Several independent physical methods (electron microscopy, X-ray diffraction and electronographic probe analysis) were applied. It was found that the powder contained two basic types of particles : the first one, enriched in Pd (Ag/Pd ratio less than 1) were of a dendritic form, monocrystal cubic structure and smaller average particle size (0.1-0.6 mu m); the second type of particles, enriched in Ag (Ag/Pd ratio greater than 2), were of a nearly isometric form, polycrystal structure of cubic silver and greater average particle size (0.6-1.5 mu m). It was shown that Pd-Ag alloy powder consisted of two types of solid solutions of Pd and of Ag.