The effects of boron carbide (B4C) additions on characteristic of diamond impregnated Fe-Co-Cu matrix composites have been investigated using powder metallurgy (PM) method. For this purpose, samples of Fe-(30-60)wt. % Cu-20 wt. %Co alloys and1wt. % BC additions of its matrix were processed by cold pressing at 350 MPa, followed by sintering at 1100 degrees C. Microstructural examination, hardness and wear tests were performed. The microstructure of Fe- Cu-Co alloys was very sensitive to the Cu content and pore closure took place with increasing the Cu content. In addition, the addition of B4C particles increased Fe-Cu-Co hardness about 44% compared to samples without B4C particles. The experimental results showed that alloy Fe-60 wt. % Cu-20 wt. %Co-1 wt. % B4C presented the best results for use in diamond cutting tools.