Carbon fiber (CF) reinforced carbon-silicon carbide (C/C-SiC) composites are one of the most promising lightweight materials for re-entry thermal protection, rocket nozzles and brake discs applications. In this paper, a novel sandwich-structured C/C-SiC composite, containing two exterior C/SiC layers, two gradient C/C-SiC layers and a C/C core, has been designed and fabricated by two-step electromagnetic-coupling chemical vapor infiltration (E-CVI) for a 20-hour deposition time. The cross-section morphologies, interface microstructures and SiC-matrix growth characteristics and compositions of the composites were characterized by scanning electron microscopy (SEM), transmission electron microscopy (TEM) and X-ray diffraction (XRD), respectively. Microstructure characterization indicates that the SiC growth includes an initial amorphous SiC zone, a gradual crystallization of SiC and grow-up of nano-crystal, and a columnar grain region. The sandwich structure, rapid deposition rate and growth characteristics are attributed to the formation of thermal gradient and the establishment of electromagnetic field in the E-CVI process. The composite possesses low density of 1.84 g/cm3, high flexural strength of 325 MPa, and low linear ablation rate of 0.38 μm/s under exposure to 5-cycle oxyacetylene flame for 1000 s at ~1700 °C.