Functionally Gradient Materials (FGM's) are soon to be used in a variety of important commercial applications; joining and thermal barrier coatings are two of the most widely studied. FGM's of the TiC/NiAl and the TiC/Ni3Al systems were fabricated using a one-step, self-propagating high-temperature synthesis (SHS) and densification method. It was observed that ignition of the starting mixture for these two systems was affected by the initial sample temperature and the external pressure that was applied to the sample during the ignition stage. Quality of the final product (e.g., porosity, grain size, cracking and microcracking, etc.) depends on a number of factors during this one-step operation. Reaction temperature control is important and is necessary to minimize residual porosity of the final product. Particle size of reactant powders, as well as applied pressure, also has an effect on the resulting microstructure. If careful reaction temperature control is achieved, along with optimum reactant powder size and applied pressure, an FGM of minimal porosity is obtained without residual macrocracks. Further, this method can easily be used to fabricate an FGM with a highly precise composition and material properties gradient. Finally, this process results in FGM's of similar quality when compared to those prepared by existing fabrication methods at only a fraction of the cost. Most importantly, it is expected that this process can be scaled up with relative ease.