Fe-TiC composite powders are fabricated by planetary ball mill processing. Two kinds of powder mixtures are prepared from the starting materials of (a) (Fe, TiC) powders and (b) (Fe, TiH2, Carbon) powders. Milling speed (300, 500 and 700 rpm) and time (1, 2, and 3 h) are varied. For (Fe, TiH2, Carbon) powders, an in situ reaction synthesis of TiC after the planetary ball mill processing is added to obtain a homogeneous distribution of ultrafine TiC particulates in Fe matrix. Powder characteristics such as particle size, size distribution, shape, and mixing homogeneity are investigated. In case of (Fe, TiC) powder many coarse TiC particulates with size of several μm are unevenly distributed in Fe-matrix. The composite powder prepared from (Fe, TiH2, C) powder mixture showed a homogeneous dispersion of ulatrafine TiC particulates.