The tribological performance of C/C–SiC paired semi-metallic brake pads suitable for automobiles was investigated in this study. Factors on tribological properties of semi-metallic brake pads such as the contents of phenolic resin, copper fibers, steel fibers and MoS2 were tested by the orthogonal experimental. According to the SAE-J2522 test procedure, an optimized compositional formulation was derived based on the brake test results combined with fuzzy comprehensive evaluation. The wear mechanism of brake pairs was discussed, and the compositional formulation of the brake pad was further optimized after the analysis of the friction surface morphology before and after braking. The results showed that copper fibers had the greatest effect on the friction performance of brake pads. Copper fibers contributed to stabilization of the coefficient of friction (COF) and effectively improved the wear resistance. However, at higher braking speeds (≥120 km/h), the copper fibers were converted from fibrous to flaky and softened, acting as a solid lubricant on the friction surface, resulting in a low COF of brake pads. The tribological performance of brake pads could be improved by reducing the content of copper fiber and increasing the content of hard particles.