Various amounts of TiSi2 (30, 40, and 50 wt.%) were added to 3 mol% yttria stabilized tetragonal zirconia polycrystals (3Y‐TZP) to fabricate 3Y‐TZP/TiSi2 composites by vacuum sintering. The effects of the TiSi2 added amount, as well as the sintering temperature on the microstructure, mechanical, and electrical characteristics of the 3Y‐TZP/TiSi2 composites were examined. The sintered samples consisted of three phases: tetragonal (t‐ZrO2), TiSi2, and reaction product Ti5Si3. The maximum bending strength and relative density of the composites, reaching 501.20 MPa and 98.59% respectively, were achieved at a TiSi2 content of 30 wt.% and sintering temperature of 1500°C. The resistivity of 3Y‐TZP/TiSi2 composites showed a nonlinear decrease with increasing TiSi2 content. These results indicated that 3Y‐TZP/TiSi2 composites had a typical percolation threshold phenomenon due to the different TiSi2 content and a conductivity model of 3Y‐TZP/TiSi2 composites at room temperature was founded on the generalized effective medium equation. The resistivity of the composites could optionally adjust between 102 and 10−4Ω·cm with 30–50 wt.% TiSi2 under room temperature. Overall, the 3Y‐TZP/TiSi2 composites show great potential for applications in the heat‐not‐burn tobacco field.