Element Mo plays a significant role in Ti(C,N)-based cermets. In this work, mixing was carried out in water and cermets with high mechanical properties were fabricated. The effect of Mo2C content on microstructure and composition was investigated by field emission scanning electron microscope (FSEM) and energy dispersive spectrometer (EDS). Results showed that microstructure becomes uniformly distributed, binder distribution becomes symmetrical and the particle size becomes small with increase of Mo2C content. The volume fraction of (outer + inner) rim structure increases, the volume fractions of core structure and binder phase decrease instead. It was found that Mo2C content in raw material affects compositions in phases. With the level of Mo2C content rising, the concentration of element Mo in rim structure increases, the concentration of element Ti in binder decreases.