The aim of this work is to synthesize ceramic composite materials based on aluminum-magnesium spinel strengthened by titanium diboride particles by the self-propagating high-temperature synthesis (SHS) and study the combustion characteristics of synthesized materials, their microstructure, and phase composition. For the synthesis of materials, powders of boron oxide, aluminum, magnesium, and titanium have been used. It is shown that changing the ratio of magnesium and aluminum in the composition of the initial charge results in changes in the phase composition of the synthesis products. As a result of the synthesis, composite materials based on aluminum-magnesium spinel with different contents of aluminum cations have been obtained: MgAl₃O₄, MgAl₂O₄, MgAlO₄, and Mg_1.5Ti_1.5O₄. It is shown that with an increase in the combustion temperature of the studied compositions, the morphology of the particles of the powders obtained with composite structures changes. It is shown that after SHS, crystallites of aluminum-magnesium spinel with a size of about 50 nm are formed.