Abstract: Fe_73.5Cu₁Nb₃Si_13.5B₉ soft magnetic powder/silicone rubber composites with different powder contents are prepared by mechanical blending and precise cast pressure hot forming method, using ternary block copolymerization silicone rubber as the matrices and Fe_73.5Cu₁Nb₃Si_13.5B₉ soft magnetic powder as functional filler particles. The percolation characters of the composite are deeply studied through alternating current impedance, direct current resistance and the interaction degree of particles and particle with silicone rubber. It is shown that the flexible stress sensitive composite presents remarkable double percolation character of alternating-current impedance and it is also found that the alternating current impedance in "the first percolation area" is caused by the particle tunnel transition and "the second percolation area" depends on the contact resistance of Fe_73.5Cu₁Nb₃Si_13.5B₉ particle chains.