In the preparation of YBa2Cu3Oy (Y-123) superconductor, the coprecipitation method was frequently used in various solution systems due to advantages such as good homogeneity, low reaction temperature, fine and uniform particle size, easy scale-up, and economical concerns. In this paper, a detailed study of different competitive reactions such as dissociation, precipitation, complex formation, and association involving metal ions, oxalate ion, and diethylamine species is performed. The study aids in understanding the precipitation and yields an optimal coprecipitation condition for the title system. A series of experiments are also conducted which confirm that the as-derived optimal condition may be extensively applied to other systems.