AA2024 is known for its good combination of mechanical properties and is widely used in aircraft fuselage and other aerospace applications. However, because of its relatively lower yield strength, it has limited application in high-stress regions. In alloy AA2024, when titanium diboride particulates are embedded uniformly, it is expected to improve the strength of alloy by working as particulate dispersed composite. However, deformation of such metal matrix composite (MMC) is likely to be difficult and different from the base alloy. In this work, the deformation behavior of AA2024 alloy and its composite with titanium diboride particles developed in situ through salt-metal reaction have been studied. Hot deformation behavior was studied through hot isothermal compression tests over a temperature range of 300°C–450°C and strain rate from 0.01–10 s−1. The results show that there is an increase in flow stress with an increase in strain rate and a decrease in flow stress with an increase in temperature. Processing maps were generated based on the dynamic material model to identify the stable and unstable regions for hot working. The strain rate sensitivity of the composite has been compared to base alloy AA2024. Deformation parameters were calculated from the stress-strain data, and constitutive equations have been generated. Softening in alloy and in MMC is found to be caused by dynamic recrystallization. Microstructural modifications that are caused by titanium diboride reinforcement and its impact during hot deformation are reported. The safe zones for the hot working of both base alloy and MMC were found to be in the range of 380°C to 450°C in a strain rate of 0.001–10 s−1.