In this study, magnesium–boron carbide composites are developed through the powder metallurgy technique and investigated for their tribological properties using a pin-on-disc tribometer. The process parameters such as load, sliding distance, sliding velocity, and concentration (wt%) of boron carbide are optimized using Taguchi's L16 array. A lower wear rate of magnesium–boron carbide composite is obtained at optimized process parameters. Further, the analysis of variance result shows that the most dominating factor that affects the wear loss is load followed by concentration of boron carbide reinforcement. Moreover, the optimum parameters for the low wear rate of magnesium–boron carbide composites are obtained as 5 N, 6 wt% of boron carbide, 1200 m, and 3 m/s through signal-to-noise ratio analysis. Further, the mechanical properties of magnesium–boron carbide composites such as hardness and compressive strength are also analyzed. The result shows that the hardness and compressive strength of magnesium–boron carbide composites are improved with the inclusion of boron carbide reinforcement.