In situ micro-TiB2/Cu cermets with a different TiB2 content (40, 50, and 60 vol %) were successfully fabricated by combustion synthesis (CS) and hot press consolidation in Cu-Ti-B systems. In addition, different contents of Cr and Zr were added to the Cu-Ti-B systems. The microstructure, mechanical properties, and abrasive wear properties of the TiB2/Cu cermets were investigated. As the ceramic content increased, the yield strength and compressive strength of the cermets were found to increase, while the strain decreased. An increase in load and abrasive particle size caused the wear volume loss of the TiB2/Cu cermets to increase. When the ceramic content was 60 vol %, the wear resistance of the TiB2/Cu cermets was 3.3 times higher than that of pure copper. The addition of the alloying elements Zr and Cr had a significant effect on the mechanical properties of the cermets. When the Cr content was 5 wt %, the yield strength, ultimate compressive strength, and microhardness of the cermets reached a maximum of 997 MPa, 1183 MPa, and 491 Hv, respectively. Correspondingly, when the Zr content was 5 wt %, those three values reached 1764 MPa, 1967 MPa, and 655 Hv, respectively, which are 871 MPa, 919 MPa, and 223 Hv higher than those of the unalloyed cermets. The wear mechanism of the in-situ TiB2/Cu cermets, and the mechanisms by which the strength and wear resistance were enhanced by the addition of Zr, were preliminarily revealed.