The optimal conditions for synthesizing a pure chalcopyrite CuFeS2 phase were thoroughly investigated through the combination of mechanical alloying (MA) and hot pressing (HP) processes. The MA process was performed at a rotational speed of 350 rpm for durations ranging from 6 to 24 h under an Ar atmosphere, ensuring proper mixing and alloying of the starting materials. Afterward, MA-synthesized chalcopyrite powder was subjected to HP at temperatures between 723 K and 823 K under a pressure of 70 MPa for 2 h in a vacuum. This approach aimed to achieve phase consolidation and densification. A thermal analysis via differential scanning calorimetry (DSC) revealed distinct endothermic peaks at the range of 740–749 K and 1169–1170 K, corresponding to the synthesis of the chalcopyrite phase and its melting point, respectively. An X-ray diffraction (XRD) analysis confirmed the successful synthesis of the tetragonal chalcopyrite phase across all samples. However, a minor secondary phase, identified as Cu1.1Fe1.1S2 (talnakhite), was observed in the sample hot-pressed at the highest temperature of 823 K. This secondary phase could result from slight compositional deviations or local phase transformations at elevated temperatures. The thermoelectric properties of the CuFeS2 samples were evaluated as a function of the HP temperatures. As the HP temperature increased, the electrical conductivity exhibited a corresponding rise, likely due to enhanced densification and reduced grain boundary resistance. However, this increase in electrical conductivity was accompanied by a decrease in both the Seebeck coefficient and thermal conductivity. The reduction in the Seebeck coefficient could be attributed to the higher carrier concentration resulting from improved electrical conductivity, while the decrease in thermal conductivity was likely due to reduced phonon scattering facilitated by the grain boundaries. Among the samples, the one that was hot-pressed at 773 K displayed the most favorable thermoelectric performance. It achieved the highest power factor of 0.81 mWm−1K−1 at 523 K, indicating a good balance between the Seebeck coefficient and electrical conductivity. Additionally, this sample achieved a maximum figure-of-merit (ZT) of 0.32 at 723 K, a notable value for chalcopyrite-based thermoelectric materials, indicating its potential for mid-range temperature applications.