In this study, we focused on the sintering performance of Ti-4.5Al-3V-2Mo-2Fe (SP-700) and mechanical properties of SP-700 reinforced with titanium boride (TiB/SP-700) fabricated by spark plasma sintering (SPS). TiB whiskers formed in titanium by a solid-state reaction of titanium and TiB2 particles were analyzed with scanning electron microscopy and X-ray diffraction. The TiB/SP-700 was sintered at temperatures of 1073, 1173, and 1273 K and a pressure of 70 MPa for 10, 30, and 50 min. The volume fraction of TiB ranged from 1.7 vol.% to 19.9 vol.%. Tensile tests of TiB/SP-700 were conducted at room temperature, and the effect of TiB volume fraction on the tensile properties was investigated.