Zirconium diboride (ZrB₂)–silicon carbide (SiC) composites are promising candidates for ultra-high temperature applications, yet optimizing their densification and mechanical performance without sintering additives remains a challenge. This study systematically investigates the independent and combined effects of three critical spark plasma sintering (SPS) parameters, that is, temperature, applied pressure, and dwell time, on the densification behavior, microstructure, and mechanical properties of ZrB₂–20 vol% SiC composites. Building upon prior work on powder preparation effects (e.g., Tungsten Carbide (WC) vs. ZrO₂ milling), this research uniquely focuses on how precise control of sintering conditions alone can tailor final material characteristics. The results demonstrate that optimizing sintering parameters yields significant property enhancement, achieving a maximum relative density of 99.2% (at 2100°C, 65 MPa, 15 min) and peak flexural strength of 516 MPa (at 2000°C, 65 MPa, 60 min). Hardness and fracture toughness reached 17.08 GPa and 3.85 MPa m^1/2, respectively, under optimized conditions. Through detailed microstructural and performance analysis, this work explains the fundamental role of individual sintering parameters in governing densification kinetics and mechanical outcomes. The findings offer practical guidance for additive-free, energy-efficient processing of ZrB₂–SiC ceramics for advanced aerospace and thermal protection systems.