The synthesis of a composite material by thermal explosion in a reaction mixture of Ni + Al + Cr 2 O 3 was studied. The thermodynamic parameters of combustion of the systems studied were estimated to predict the composition of the inorganic products (condensed or gaseous) of self-propagating high-temperature synthesis and calculate the adiabatic combustion temperature. It is shown that the synthesis process involves competing reactions in the sample volume which are responsible for the formation of a multiphase product. The influence of the content of Cr 2 O 3 in the reaction system on the strength characteristics of the product synthesis was studied. The microstructure of the synthesized samples was examined, and their micro-hardness, toughness and residual porosity were determined. The possibility of obtaining a homogeneous material based on NiAl intermetallic compound containing dissolved chromium and chromium oxide nanoparticles is shown.