Diamond/SiC composites are appropriate candidate materials for heat conduction as well as high temperature abrasive materials because they do not form liquid phase at high temperature. Diamond/SiC composite consists of diamond particles embedded in a SiC binding matrix. SiC is a hard material with strong covalent bonds having similar structure and thermal expansion with diamond. Interfacial reaction plays an important role in diamond/SiC composites. Diamond/SiC composites were fabricated by high temperature and high pressure (HPHT) sintering with different diamond content, single diamond particle size and bi-modal diamond particle size, and also the effects of composition of diamond and silicon on microstructure, mechanical properties and thermal properties of diamond/SiC composite were investigated. The critical factors influencing the dynamics of reaction between diamond and silicon, such as graphitization process and phase composition, were characterized. Key factor to enhance mechanical and thermal properties of diamond/SiC composites is to keep strong interfacial bonding at diamond/SiC composites and homogeneous dispersion of diamond particles in SiC matrix.