The composite ceramics that contains nano-fibers and transformation particles, fabricated through SHS process, is performed with high fracture toughness and high plasticity. The matrix of composite ceramics was mainly composed of fiber eutectics with nano-fibers. The transformation particles were distributed along boundaries of the fiber eutectic structures. First, Mori-Tanaka method was used to predict the stiffness of the fiber eutectic. The fiber eutectic is transverse isotropy and has five independent elastic constants. Then considering random orientation of the fiber eutectic, the Young’s modulus and Poisson’s ratio of the matrix is determined by even strain. The matrix is isotropy. Finely, assuming the transformation particles as spheres distributed in the matrix, the effective stiffness for composite ceramics was computed. When the volume fraction of fibers and particles increase, the Young’s modulus of composite ceramics decrease and are little smaller than the volume average value, the Poisson’s ratio of composite ceramics decrease and are little bigger than the volume average value.