In this paper, (Ni2B+C)/Cu composites were prepared by hot pressing sintering (HP), and then heat treatment (HT) and multidirectional forging (MDF) were carried out to regulate the amount, size and distribution of reinforced phases. The evolution behavior of local structure and its effect on properties during heat treatment and multidirectional forging were studied. Results show that the Vickers hardness and electrical conductivity of (Ni2B+C)/Cu composite after solid solution, multidirectional forging, and aging treatment can reach 171.1 HV and 46.5 %IACS, respectively, which are increased by 55.3 % and 69.1 % compared with the as-sintered. The tensile strength can reach 355.1 MPa, and the facture elongation is increased to 5.2 % compared with the as-sintered (0.3 %), achieving a transition from brittle fracture to plastic fracture. In addition, the dry friction and wear mechanism of the composite is mainly abrasive wear, while the current-carrying friction and wear mechanism changes from abrasive wear to a coexistence of abrasive wear and oxidation wear. This work provides a new way to improve the properties of (Ni2B+C)/Cu composites.