Abstract: Calculating mechanical performance and physical properties of ternary boride cermets such as Mo₂NiB₂, Mo₂FeB₂, MoCoB and WCoB by first principles plays an important role in development and design of new ternary boride cermets. The structural characteristics and performance differences of ternary borides are described. The research progress and existing problems of the first principles in calculating the structural stability, mechanical performance, electronic structure and thermodynamic properties of ternary borides are summarized. The future development direction is prospected.