This article presents the results of investigations on densification, mechanical and electrical properties of boron carbide (B₄C) with the addition of HfB₂. High dense B₄C-HfB₂ (2.5 - 30 wt .%) composites were prepared by hot pressing at a temperature of 2173 K with 40 MPa mechanical pressure. The B₄C-HfB₂ composite mixture exhibited a better sintering aptitude compared with monolithic B₄C. Hardness and elastic modulus of B₄C-HfB₂ composites were measured to be in the range 36 - 28 GPa and 465 - 525 GPa respectively. Indentation fracture toughness of B₄C increased with HfB₂ content and obtained a maximum of 7 MPa m^1/2 at 30 wt. % HfB₂, which is ~3 times higher than the monolithic B₄C. Crack deflection was identified to be the major toughening mechanism in the developed composite. B₄C – 10 wt. % HfB₂ composite exhibited a maximum electrical conductivity of 7144 Ω^-1 m^-1 which is 26 % higher than the conductivity of monolithic B₄C (5639 Ω^-1 m^-1) at 1373 K.