Totally biodegradable and osteoconductive composite material consisting of polyhydroxybutyrate (PHB) and β-tricalcium phosphate (β-TCP) was manufactured for bone tissue repair. The composite production process was optimized with the help of differential scanning calorimetry (DSC) analyses. Thermogravimetric analyses (TGA) indicated that intended compositions for TCP/PHB composite could be achieved through this manufacturing route. Scanning electron microscopic (SEM) examinations revealed that TCP/PHB composite containing up to 40 vol.% of β-TCP had satisfactory distribution of micron-sized TCP particles in the composite. The good-quality composite will be further investigated in in vitro and in vivo experiments.