Ultra-refractory ceramic composites of composition ZrB2 + (5 to 20) vol% MoSi2were produced by pressureless sintering at 1830 °C under argon atmosphere.Sintering cycles and microstructural analysis point out that at least 20 vol% molybdenum disilicide is necessary for obtaining a dense material. Thereafter, the composite 80 vol% ZrB2 + 20 vol% MoSi2 was used to test the thermal stabilityunder oxidizing environment. Oxidation tests were carried out in flowing syntheticair in a thermogravimetric analyzer from 700 to 1400 °C with exposure time of30 h. In the low-temperature range (700–1000 °C), the oxidation of the composite resembles that of monolithic ZrB2 ceramics, for temperatures >1200 °C the silica resulting from oxidation of molybdenum disilicide seals the sample surface, preventing zirconium diboride from fast degradation.