Iron-based powder metallurgy material was prepared by warm compaction at 125℃ using a compacting pressure of 700MPa. Sintering temperature ranging from 1100℃ to 1300℃ and sintering time ranging from 40min to 80min were used to study the effects of sintering parameters on the compacts. Die wall lubrication polytetrafluoroethylene (PTFE) emulsion was also applied in combination with warm compaction in hope to increase the compact density and the mechanical properties of the sintered material. Green and sintered density, spring back effect and sinter shrinkage were measured. Mechanical properties of both as-sinter and heat treated samples were also measured. Results show that mechanical properties of the sintered compacts increase with the increase of sintering temperature and sintering time. Sample prepared by die wall lubricated warm compaction always shows higher density and mechanical properties.