Starting from elemental powder mixtures, p-type (Bi 2 Te 3 ) 0.25 (Sb 2 Te 3 ) 0.75 thermoelectric alloys were fabricated via mechanical alloying (MA) and hot pressing in the present work. With the MA process proceeding, elemental Bi, Sb and Te reacted into (Bi 2 Te 3 ) 0.25 (Sb 2 Te 3 ) 0.75 solid solution phase, the amount of the solid solution phase increased with prolonging MA time, and single phase (Bi 2 Te 3 ) 0.25 (Sb 2 Te 3 ) 0.75 was obtained after MA for 12h. Microstructure and thermoelectric properties of the hot-pressed samples were investigated. P-type (Bi 2 Te 3 ) 0.25 (Sb 2 Te 3 ) 0.75 with slightly preferred orientation and fine grain size were obtained after hot pressing. The maximum figure of merit was obtained as 2.84×10 −3 K −1 at room temperature.