This study introduces two micromechanical modeling approaches to analyze spatial variations of temperatures, stresses and displacements in particulate composites during transient heat conduction. In the first approach, a simple micromechanical model based on a first order homogenization scheme is adopted to obtain effective mechanical and thermal properties, i.e., coefficient of linear thermal expansion, thermal conductivity, and elastic constants, of a particulate composite. These effective properties are evaluated at each material (integration) point in three dimensional (3D) finite element (FE) models that represent homogenized composite media. The second approach treats a heterogeneous composite explicitly. Heterogeneous composites that consist of solid spherical particles randomly distributed in homogeneous matrix are generated using 3D continuum elements in an FE framework. For each volume fraction (VF) of particles, the FE models of heterogeneous composites with different particle sizes and arrangements are generated such that these models represent realistic volume elements “cut out” from a particulate composite. An extended definition of a RVE for heterogeneous composite is introduced, i.e., the number of heterogeneities in a fixed volume that yield the same expected effective response for the quantity of interest when subjected to similar loading and boundary conditions. Thermal and mechanical properties of both particle and matrix constituents are temperature dependent. The effects of particle distributions and sizes on the variations of temperature, stress and displacement fields are examined. The predictions of field variables from the homogenized micromechanical model are compared with those of the heterogeneous composites. Both displacement and temperature fields are found to be in good agreement. The micromechanical model that provides homogenized responses gives average values of the field variables. Thus, it cannot capture the discontinuities of the thermal stresses at the particle–matrix interface regions and local variations of the field variables within particle and matrix regions.