Al2O3 + 30 vol% ZrO2 matrix composites with 20 and 30 vol% cBN have been prepared with the optimized processing route, using spark plasma sintering (SPS) at temperatures of 1400 °C and 1250 °C. The influence of cBN addition on the microstructure characteristics, micro/nanohardness, elastic modulus, and crack-extension resistance of the composites and their constitutions have been investigated using scanning electron microscopy (SEM), statistical analyses of the individual grain size and micro/nanoindentation methods. The matrix consists of alumina and zirconia grains with grain sizes/diameter of approximately 220 and 160 nm with approximately 1.9 μm cBN grains in the Al2O3 + ZrO2 + cBN composites. The microhardness is slightly increasing with cBN addition from 16.2 to 17.1 GPa and the crack-extension resistance from 3.72 to 4.29 MPa.m1/2. The toughening mechanisms are in the form of crack deflection, crack branching, and crack bridging. The nanohardness and indentation modulus of the matrix are approximately 30 and 420 GPa, and the cBN grains 70 and 777 GPa, respectively.