In this study, powder metallurgy was used to fabricate titanium nitride/nickel metal-matrix composites. First, Ti and Ni powders with weight ratios of 20:80, 50:50, and 80:20 were dry mixed for 24 h. After cold isostatic pressing, the green compacts were soaked in a water-based hot forging lubricant and sintered at 850, 950, and 1050°C for 1.5 h in an air atmosphere. The effects of the amount of titanium powder and the sintering temperature on the mechanical properties (hardness, wear resistance, and compressive strength) of the composites were investigated. The results indicated that titanium gradually transformed into titanium nitride near the surface after sintering due to the carbothermal reduction reaction; this transformation was observed to significantly increase the hardness. In addition, a titanium oxide film was observed to form between the titanium particles and the nickel matrix. The optimum sintering temperature of 950°C provides the composites with titanium-nickel weight ratios of 20:80 and 50:50, the latter of which exhibited the best mechanical properties (wear resistance and compressive strength). Furthermore, increasing the titanium content to 80% in the composite increased the hardness; however, the wear resistance and compressive strength were observed to reduce.