TiB2/B4C composite ceramics are prepared via hot pressing, in which the TiB2 particles are formed by introducing TiC0.78 and through the reaction between B4C and TiC0.78. The electrical and thermal conductivities and Seebeck coefficient of samples containing 0, 12.5 and 25.4 vol% TiB2 are measured from room temperature up to 1200K. The results show that the transport properties of the samples vary with the TiB2 content. The transport properties of a 12.5 vol% TiB2/B4C sample are dominated by the B4C matrix as in undoped B4C ceramics, whilst the transport properties of a 25.4 vol% TiB2/B4C sample are dominated by TiB2 particles. The figure of merit of the 25.4 vol% TiB2/B4C sample is higher than that of the undoped B4C ceramic sample between room temperature and about 700K, which indicates that it is possible to improve the thermoelectric properties by selecting an optimum combination of different materials.