Aluminum matrix composites containing of 10, 20 and 30 vol% TiB2 particles were compacted by underwater and direct shock wave consolidation methods. SEM and Optical Microscopic examination, hardness and bending strength measurements were used to characterize the samples. It is observed that there were different distributions of TiB2 particles in recovered compacts by each method. In the direct method, the distribution of TiB2 particles at the center and at the periphery of the sample was different whereas in the underwater method there was a uniform microstructure in the sample. The microhardness of the compacts increased with increasing TiB2 particle volume fraction in both methods. The results showed highest bending strength for the composite containing 20 vol% TiB2 particles.