Recent years, the sintered silver paste was introduced and further developed for power electronics packaging due to low processing temperature and high working temperature. The pressure-less sintering technology reduces the stress damage caused by the pressure to the chip, improves reliability, and is widely applied in manufacturing. Currently, most existed studies are focused on alcohol-based sintered silver pastes while resins have been demonstrated to improve the bonding properties of solder joints. Hence, the performance and sintering mechanisms with epoxy-based silver paste need to be further explored. In this work, a methodology for multifactor investigation is settled on the epoxy-based silver paste to reveal the relationship between the strength and the different influence factors. We first analyzed the characteristics of commercialized epoxy-based silver paste samples, including silver content, silver particle size, organic composition, sample viscosity, and thermal conductivity. Samples were then prepared for shear tests and microstructure analysis under different pressure-less sintering temperatures, holding time, substrate surface, and chip size. Full factor analysis results were further discussed in detail for correlation. The influence factors were ranked from strong to weak as follows: sintering temperature, substrate surface, chip size, and holding time. Finally, a thermal cycling test was carried out for reliability analysis. Epoxy residues are one of the possible reasons, which result in shear strength decreasing exponentially.