Titanium matrix composites (TMCs) were prepared by investment casting in a consumable arc skull casting furnace. The effects of B4C additions on ambient-temperature and high-temperature tensile properties of TMCs were investigated. It has been found that with the addition of B4C, the microstructure of TMCs was refined and the strength improved. The strength enhancement of the TMCs is ascribed to the combined effects of the second-phase strengthening, grain refinement strengthening and the solution strengthening. The grain refinement and solution strengthening effects play a main role in the yield strength enhancement of TMCs at ambient temperature, and the second-phase strengthening of TiB whiskers and TiC particles plays a more important role at high temperature.