Diamond/Al composites containing B4C-coated and uncoated diamond particles were prepared by powder metallurgy. The microstructure, bending strength and thermal conductivity were characterized considering the B4C addition and diamond fraction. The influence of B4C coating and fraction of diamond on both bending strength and thermal conductivity were investigated. The bending strength increased with decreasing diamond fraction. Moreover, addition of B4C coating led to an obvious increase in bending strength. The peak value at 261.2 MPa was achieved in the composite with 30 vt.% B4C-coated diamond particles, which was about twice of that for 30 vt.% uncoated diamond/Al composite (140.1 MPa). The thermal conductivity enhanced with the increase in diamond fraction, and the highest value (352.7 W/m·K) was obtained in the composite with 50 vt.% B4C-coated diamond particles. Plating B4C on diamond gave rise to the enhancement in bending strength and thermal conductivity for diamond/Al composites, because of the improvement of the interfacial bonding between diamond and aluminum matrix.