Aluminum borate whiskers and magnetic ceramic particles (NiFe2O4 or Fe3O4) reinforced aluminum matrix composites were synthesized by a squeeze casting technique. Microstructures were observed using scanning electron microscopy (SEM). The tensile strength and tensile yield strength of the as-cast composites containing NiFe2O4 particles were higher than that of composites containing Fe3O4 particles. The tensile yield strength of the thermomagnetically treated composites was higher than that of the as-cast or the thermally treated composites. The effects of the magnetostrictive property of Fe3O4 or NiFe2O4, the interface and the thermal residual stresses on tensile behaviors of the composites with different treatments were discussed in this paper.