TiC/TiB2-FeNiCr composites enhanced by TiC particles and TiC-TiB2 multiphase particles were in-situ synthesized by thermite reaction. The microstructure and phase structure were investigated by electron probe microanalysis (EPMA), scanning electron microscopy (SEM), transmission electron microscope (TEM) and X-ray diffraction (XRD). The hardness and wear resistance were tested by the Vickers indentation method and friction-wear testers, respectively. Results show that the TiC/TiB2-FeNiCr composites are composed of TiC, TiC-TiB2 multiphase particles, Cr7C3, NiAl and α-FeNiCr. The Vickers hardness of composites is 13132.5 MPa. The composite mass wear loss is 4.2 mg after wearing for 1 h with 20 N force and that is nearly one third of the mass loss of 0.45C% steel.