TiB2 is a transition metal boride which has remarkable properties such as high melting temperature, hardness, thermal and electrical conductivity, good wear, thermal shock and corrosion resistance. Self-propagating high temperature synthesis (SHS) followed by acid leaching was applied in this study to synthesize TiB2 powders with ultra-fine grain size and high energy efficiency. Investigated parameters were Mg stoichiometry as 90%, 100% and 110%, process atmosphere as air and argon atmosphere and effect of MgSO4 and NaCl as catalyst on the quality and grain size of synthesized TiB2 powders. SHS reactions were carried out in a cylindrical copper crucible. SHS products were leached by using concentrated HCl solutions. Leaching parameters were 9.25 molar HCl concentration, 600 rpm stirring speed and 1/5 solid/liquid ratio. X-Ray Diffraction (XRD), BET specific surface area measurement and chemical analysis techniques were performed for the characterization of SHS and leaching products.