Microwave superconducting mixers operating at 10–13 GHz utilizing Josephson junctions have been investigated analytically and experimentally. Measurements on mixer sensitivity were carried out at 13 GHz using waveguide‐mounted experimental point‐contact Josephson junctions at 4.2 K. Results showed sensitivities of −90 dBm/MHz (10−18W/Hz) which included mismatch losses encountered in the waveguide structure. The Josephson junction mixing mechanism was analyzed on the basis of small‐signal modulation of the staircase like dcI‐Vcharacteristics. It was shown that a small‐signal microwave excitation results in an ac lateral shift of the regions between steps, such that: (a) Optimum Josephson mixing occurs halfway between steps. (b) Mixing occurs between all steps with maximum conversion efficiency between the zero and first step. (c) Predicted low conversion loss and possibly internal gain for a matched mixer. The analytical model was simulated by a digital computer and the behavior of the Josephson mixer predicted for various conditions of excitation. The model chosen for the analysis and the computer simulation is based on the simplest assumptions concerning bulk‐formed Josephson junctions. In the laboratory an external local oscillator set 60 MHz below the signal frequency was used to induce the well‐known step structure in the dcI‐Vcharacteristic of the point‐contact Josephson junction. Mixing of theLoand signal was found to occur between constant voltage steps in agreement with both analysis and computer simulation. The correctness of the model is demonstrated by the agreement between the theory and experiment.