In this study, WE43 alloy matrix composites, reinforced with 2.5, 5, 7.5, and 10 wt% B4C particles have been produced by the stir casting technique at 750 °C. Cast ingots of the matrix alloy and the composites were then subjected to hot rolling at 480 °C. After that, the effect of B4C additions (0–10 wt%) as well as hot rolling on the microstructure and mechanical properties of WE43 alloy were investigated. Microstructural characterization following hot rolling revealed a relatively uniform distribution of B4C particles, well-bonded B4C particles to the matrix, and a minimal porosity level. Further, both as-cast and hot-rolled composites have shown considerable grain refinement and hence improved mechanical properties compared to unreinforced alloy. Twinning was the dominant deformation mechanism in the hot-rolled WE43 alloy, whereas dynamic recrystallization occurred extensively in hot-rolled composites. It was observed that tensile strength and hardness values were improved not only as B4C content increased but more due to the rolling effect; however, elongation to fracture was reduced. Maximum ultimate tensile strength of ∼284 MPa and yield strength of ∼259 MPa with an improved hardness to ∼97 HB were obtained for the hot-rolled WE43-10%B4C composite.