In this work, Ti6Al4V-based composites reinforced with TiB phase are comparatively synthesized by three powder metallurgy approaches: press-and-sintering of powder blends; hydrogen assisted 2-stage sintering and sintering of powders preliminary activated by milling procedure. The simplest cold compaction and vacuum sintering of TiH$_2$-based powder blends with Al–V master alloy (MA) and TiB$_2$ powder additives is used as reference approach. It results in the formation of porous Ti6Al4V matrix with inhomogeneous distribution of partially reacted boride phases. Such microstructure is not appropriate to ensure sufficient mechanical characteristics of produced composites. To achieve desirable highly dense composite microstructures with evenly distributed needle-shape TiB reinforcements, two other manufacturing approaches are comparatively tested. Hydrogen assisted 2 stage sintering is based on hydrogenation of not uniform porous composite product obtained after first press-and-sintering cycle, its milling to produce hydrogenated composite powders which are subjected to second compaction and sintering cycle. The alternative approach includes activation milling of HDH-Ti powder with TiB$_2$ additives, following blending with TiH$_2$ and MA powders, compaction and sintering operations. Both methods ensure activated sintering of powders, improves density, microstructure uniformity and mechanical characteristics of produced composites compared to reference manufacturing approach. Among all studied manufacturing approaches, Ti6Al4V/TiB composite produced with activating milling of powders exhibits the best mechanical performances owing to combination of reduced porosity, microstructure uniformity and acceptable impurity content.