The size and distribution of the silicon phase and intermetallic phase are important factors affecting the properties of Al11Si3Cu2NiMg alloy (M142). In this study, BNNS and micro-TiB2 were used to synergistically refine and reinforce M142 composites (M142-BNNS-TiB2). After T6 heat treatment, the comprehensive mechanical properties of M142-BN-TiB2 composites were excellent, with an ultimate tensile strength of 463 MPa and an elongation of 2.6%. In addition, the introduction of BNNS and micro-TiB2 changed the fracture mode of M142 from brittle fracture to quasi-cleavage fracture, and the introduction of BNNS and micro-TiB2 refined the Si phase and intermetallic phase, which could change the origin of the crack in the composite, thus improving the ductility of the composite.