Abstract: Temperature field and stress field in (TiB₂+Fe)/Fe layered materials fabricated by self-propagating high-temperature synthesis plus quick pressing (SHS/QP) were analyzed. Finite element analysis shows that the temperature of Fe substrate at the interface increases and liquid Fe exists longer with the increase of the thickness of SHS layer. The peculiar point of the axial stress and shear stress is located at the peripheral area of the bonding boundary of (TiB₂+Fe)/Fe two-layered sample and this peculiar point would be considered as the major reason for the exfoliation between the bonding boundaries.