Advanced braking devices can represent a promising application for ceramic matrix composites (CMC) with functional and structural properties. If the actual advanced braking materials could be at least partially replaced by CMCs, it might become the first consumer market for these materials. CMC containing three main phases, silicon carbide, graphite and carbon fibers were prepared. A systematic analysis of the processing-structure-properties relationship of the composite is carried out. In particular, silicon carbide provides the necessary hardness, whereas graphite is used for its lubricating properties, and carbon fibers are used as reinforcement. The samples, prepared using a reactive bonding technique, exhibited adequate mechanical properties, high resistance to thermal shocks and good stability after many thermal cycles. Morphological and structural investigations have been performed to optimize the content of each component. Preliminary tribological investigations are presented.