A C/C-SiC-HfC composite was fabricated using a three-dimensional orthogonally woven (3DW) preform, and the effect of HfC ultra-high temperature ceramic (UHTC) particles on the microstructure and ablation properties of the composite was evaluated. First, pyrolytic carbon (PyC) was infiltrated into the 3DW preform by the I-CVI method. Then, impregnation of a suspension composed of HfC particles and phenolic resin into the 3DW preform. Next, liquid Si alloy was infiltrated into the C/C-HfC porous structure at 1650 °C to form a C/C composite with a SiC-HfC matrix. HfC particles and the continuous SiC phase among carbon fibers were saturated and during the oxyacetylene test, covered the surface of the C/C-SiC-HfC composite as a dense continuous SiO2-HfO2 layer. This layer acted as a barrier against the diffusion of oxygen into the bulk parts of the C/C-SiC-HfC composite. The results of the oxyacetylene flame test at 2500 °C for 120 s showed that the mass and linear ablation rates of the C/C-SiC composite were 4.8 mg/s and 3.75 µm/s, respectively. After the addition of HfC and the formation of the C/C-SiC-HfC composite, these rates decreased to 1.6 mg/s and 0.98 µm/s, respectively.