Abstract In the present work fracture mechanism of the Cu-Cr-Zr system was studied by "in-situ tensile test in SEM". It has been shown, that during tensile strain over the critical deformation the first cracks appeared due to the decohesion of matrix - large Cr particles interphase or by Cr particles failure. The further stress increase causes the cracks formation on matrix - small Cr particles interfaces and in the clusters of Cu5Zr intermetalics. The trajectory of final fracture was formed preferably by coalescence of cracks oriented about 67° to the loading direction. The model, presenting fracture mechanism in the investigated system was suggested.