Cu-Ni composite nanoparticles were successfully synthesized by electrical explosion of wire (EEW) method. Cu-Ni alloy and twisted wires with various Ni contents were used as the feeding material for a 3 kV charging voltage EEW machine in an ethanol ambient chamber. The phase structure and magnetic properties of the as-fabricated samples were studied. It was established that the prepared powders after drying have a spherical form with the particle size is under 100 nm. XRD analysis indicated that the nanopowders consisted of binary Cu-Ni phases. Only pure phases of the intermetallic compound Cu-Ni (Cu0.81Ni0.19 and Cu3.8Ni) were observed in the XRD patterns of the samples. The synthesized intermetallic Cu-Ni alloy nanopowders reveal magnetic behaviors, however, the lower Ni content samples exhibited paramagnetic behaviors, meanwhile, the higher Ni content samples exposed ferromagnetic properties.