We report on the successful synthesis of Bi1−xSbx alloys via mechanical alloying followed by sintering via spark plasma sintering, and the study of their lattice dynamics by Raman spectroscopy as well as their transport and thermoelectric properties. We observed an upshift of the frequency of the Raman-active Eg vibrational mode with increasing Sb content but no significant change for the frequency of the Raman-active A1g vibrational mode. Conversely, the linewidth of the Eg vibrational mode did not change significantly with increasing Sb content, whereas a twofold increase was observed for the A1g vibrational mode. Moreover, we confirm the emergence of several new vibrational modes with Sb alloying that could be associated with Bi-Sb and Sb-Sb vibrations. Rather large magnetoresistance was observed for all samples at room temperature. From the Seebeck coefficients, we determined the energy bandgaps in our samples, which are larger than those in bulk compounds, presumably due to the electronic confinement effect. We report a rather large thermoelectric power factor of 2–3 mW/m.K2 and thermoelectric figure of merit ZT of 0.15–0.23 at room temperature. However, ZT values were not improved at room temperature compared to prior works because of the rather large thermal conductivity of 3.75–4.5 W/m.K at room temperature. We find a larger resistivity, Seebeck coefficient, and power factor for the samples sintered at 200 °C for 5 min than for the samples sintered at 220 °C for 15 min, but similar thermal conductivity, resulting in larger ZT for the samples obtained in the first conditions. The samples with low Sb content x = 0.05 have a lower power factor and larger thermal conductivity than the samples with x = 0.12 and x = 0.15 for the same sintering conditions, which results in lower ZT for x = 0.05.