A series of 90W-7Ni-3Fe alloys with different yttrium contents were fabricated via liquid phase sintering of nano-composite powder prepared by spray drying with subsequent thermal reduction process. The rare earth Y content was 0, 0.4% and 5% (mass fraction). XRD, SEM and EDX were used to analyze the existence state and distribution characteristics of yttrium added in the 90W-7Ni-3Fe alloys. The results show that the added yttrium exists in the form of Y2O3 and Y is not detected within the W particles. When the content of yttrium is 0.4%, a new phase rich in yttrium locates between the tungsten particles and the matrix material; with the content of yttrium increasing to 5%, the yttrium-rich region appears in the matrix and the particle size of W is refined effectively.