There is little available research on how different transition metal oxides influence the behavior of B4C-based ceramics, especially for Ta2O5 and Nb2O5. B4C-MeB2 (Me = Ti, Zr, Nb, and Ta) multiphase ceramic samples were prepared via in situ pressureless sintering at 2250 °C, involving the mixing of B4C and MeOx powders, namely TiO2, ZrO2, Nb2O5, and Ta2O5. The phase constituents, microstructures, and mechanical properties of the samples were tested. The results indicated that different transition metal elements had different effects on the ceramic matrix, as verified through a comparative analysis. Additionally, the doped WC impurity during the ball milling process led to the production of (Me, W)B2 and W2B5, which brought about changes in morphology and performance. In this study, the Ta2O5-added sample exhibited the best performance, with elastic modulus, flexural strength, Vickers hardness, and fracture toughness values of 312.0 GPa, 16.3 GPa, 313.0 MPa, and 6.08 MPa·m1/2, respectively. The comprehensive mechanical properties were better than the reported values when the mass fraction of the second phase was around five percent.