Mechanical behavior of B4C - HfB2 particulate ceramic composite doped with CrB + Cr3B4 chromium boride compounds were studied by nanoindentation. Hardness, Young's modulus, and indentation stress - indentation strain behavior of B4C and HfB2 phases was computed. It was found that hardness and Young's modulus of B4C matrix phase in B4C - HfB2 doped with Cr - B was increased as compared to those hardness and Young's modulus of pure B4C. It was also found that indentation stress was relieved by “pop-in” events in some of the B4C grains, however, the “pop-in” discontinuous events were always observed upon indentation of HfB2 grains, that lead to a decrease in hardness of HfB2 from 40 to 50 GPa before “pop-ins” to 28–32 GPa after “pop-ins”. The obtained results can be further used in calculations of thermal residual stresses in B4C and HfB2 phases of B4C - HfB2 particulate ceramic composite.