The effect of ratio of water to binder on the properties of magnesium potassium phosphate cement(MKPC) paste with composite retarder was investigated through measuring initial setting time,fluidity and hydration temperature of MKPC pastes,and through testing the compressive strength and analyzing micro morphology and phase compositions.The result indicated that,there was an obvious effect of ratio of water to binder on the properties of MKPC.There was an optimum range of water to binder of MKPC paste when hardened MKPC pastes had more perfect structure and higher compressive strength.