This paper reports on the densification of TiB₂ by hot pressing using TiSi₂ as an additive. Mechanical, physical and thermal properties of the dense pellets were evaluated. Isothermal oxidation studies were carried out at 850 °C for selected samples. Microstructural studies of hot pressed and oxidized samples were carried out using SEM, EPMA and XRD. High density pellets of >96% r_th were obtained by hot pressing of the powder mixtures at 1550 °C and a pressure of 30 MPa. Ti₅Si₃ phase was identified as a reaction product of hot pressing. Hardness values of the composite with varying TiSi₂ were measured to be in the range of 18–25 GPa. Fracture toughness was marginally higher in the range of 4–6 MPa m^1/2 compared to 3–4 MPa m^1/2 for monolithic TiB₂. Flexural strength of the composite with 2.5%TiSi₂ was measured as 400 MPa. Coefficient of thermal expansion and electrical resistivity were measured up to 800 °C. Improved oxidation behavior was observed in the TiB₂ + TiSi₂ composite compared with TiB₂ + MoSi₂ composite. TiO₂ and SiO₂ phases were identified on the surface of the oxidized samples.