This study’s main goal was to obtain and characterize Al2O3-Cu-Ni composites with different metallic phase content. The study analyzed the three series of samples differing in the metallic phase 5, 10, 15 vol.% volume contents. An identical volume share of the metallic components in the metallic phase was used. Ceramic–metal composites were formed using uniaxial pressing and sintered at a temperature of 1400 °C. The microstructural investigation of the Al2O3-Cu-Ni composite and its properties involved scanning electron microscopes observations and X-ray diffraction. The size of the metallic phase in the ceramic matrix was performed using a stereological analysis. Microhardness analysis with fracture toughness measures was applied to estimate the mechanical properties of the prepared materials. Additionally, magnetic measurements were carried out, and the saturation magnetization was determined on the obtained magnetic hysteresis loops. The prepared samples, regardless of the content of the metallic phase in each series, were characterized by a density exceeding 95% of the theoretical density. The magnetic measurements exhibited that the fabricated composites had ferromagnetic properties due to nickel and nickel-rich phases. The hardness of the samples containing 5, 10, 15 vol.% metallic phases decreased with an increase in the metallic phase content, equal to 17.60 ± 0.96 GPa, 15.40 ± 0.81 GPa, 12.6 ± 0.36 GPa, respectively.