A homogeneous structured CoCrNi medium-entropy alloy was synthesized by gas atomization and spark plasma sintering (SPS). The mechanical properties, corrosion resistance, and magnetic properties were reported in this study. The as-atomized CoCrNi MEA powder, with a spherical morphology in shape and a mean particle diameter of 61 μm, consisted of a single face-centered cubic (FCC) phase with homogeneous distributions of Co, Cr, and Ni elements. Also, the cross-sectional microstructure of powder particles gradually transformed from fully cellular structure into equiaxed-type structure with increasing particle size. After being sintered by SPS, the CoCrNi MEA consisted of a single FCC phase with a mean grain size of 20.8 μm. Meanwhile, the CoCrNi MEA can capable of offering an ultimate tensile strength of 799 MPa, yield strength of 352 MPa, elongation of 53.6%, and hardness of 195.3 HV. In addition, this MEA showed superior corrosion resistance to that of 304 SS (stainless steel) in both 0.5 mol/L HCl and 1 mol/L NaOH solutions. The magnetization loop indicated that this MEA has good soft magnetic properties.