ZA-27 hybrid metal matrix composites reinforced with lamb bone ash (LBA) and boron carbide (B4C) were fabricated by employing stir casting route. Single-reinforced composite with 5 wt.% of LBA and hybrid composites reinforced with LBA/B4C in the ratio of (3.75:1.25, 2.5:2.5, 1.25:3.75) were developed. Composites were processed as per ASTM standards and subjected to physical characterization (density and porosity), microstructural characterization, and mechanical characterization (hardness, compressive strength, tensile strength, and impact strength). Microstructural studies of ZA-27 composites using a scanning electron microscope (SEM) revealed the uniform dispersion of reinforcements. X-ray diffraction (XRD) patterns and energy-dispersive X-ray spectroscopy (EDS) of the developed composites confirmed the existence of LBA and B4C particles in the matrix. The density of the composites declined, and porosity increased with the increment in B4C wt.% compared with base alloy. Mechanical properties like hardness, compressive strength, and tensile strength improved significantly in the case of hybrid composites than single-reinforced composite. Hardness, compressive strength and tensile strength of the hybrid composites increased to a maximum of 41.12%, 24.40%, 61.08% respectively compared to the base alloy, whereas single-reinforced composite showed maximum improvement of 19.26% (hardness), 11.16% (compressive strength), and 28.38% (tensile strength) compared to the base alloy. Ductility of the composites decreased with the addition of reinforcements. Impact strength of the composites showed a marginal reduction; however, the reduction was higher in the single-reinforced composite than hybrid reinforced composites. Fractured morphology showed dimples, cracks, tear ridges, and voids.