Compaction behaviors of wet granulated aluminum powder were examined by uni-axial die compaction and effects of rearrangement and plastic deformation on them were analyzed by using Cooper-Eaton equation. Based on calculation results and structurelmorphology of granulated powder, new compaction model for granulated powder, which consists of three compaction mechanisms; macro-rearrangement, micro-rearrangement and plastic deformation, and modified equation were proposed in this study. It indicated that a macro-rearrangement was a dominant factor on compaction behavior of granulated powder and the modified equation was adaptive enough to analyze compaction behavior.