A recently approved drug that induces erythroid cell maturation (luspatercept) has been shown to improve anemia and reduce the need for blood transfusion in non‐transfusion‐dependent as well as transfusion‐dependent β‐thalassemia (BT) patients. Although these results were predominantly positive, not all the patients showed the expected increase in hemoglobin (Hb) levels or transfusion burden reduction. Additional studies indicated that administration of luspatercept in transfusion‐dependent BT was associated with increased erythropoietic markers, decreased hepcidin levels, and increased liver iron content. Altogether, these studies suggest that luspatercept may necessitate additional drugs for improved erythroid and iron management. As luspatercept does not appear to directly affect iron metabolism, we hypothesized that TMPRSS6‐ASO could improve iron parameters and iron overload when co‐administered with luspatercept. We used an agent analogous to murine luspatercept (RAP‐GRL) and another novel therapeutic, IONIS TMPRSS6‐LRx (TMPRSS6‐ASO), a hepcidin inducer, to treat non‐transfusion‐dependent BT‐intermedia mice. Our study shows that RAP‐GRL alone improved red blood cell (RBC) production, with no or limited effect on splenomegaly and iron parameters. In contrast, TMPRSS6‐ASO improved RBC measurements, ameliorated splenomegaly, and improved iron overload most effectively. Our results provide pre‐clinical support for combining TMPRSS6‐ASO and luspatercept in treating BT, as these drugs together show potential for simultaneously improving both erythroid and iron parameters in BT patients.