Recently nanostructured bulk silicon and silicon-germanium have achieved large increases in the thermoelectric figure of merit (ZT). The ZT enhancement is attributed to a significant reduction in the lattice thermal conductivity while maintaining relatively high carrier mobility. Silicon-based thermoelectric devices are attractive due to their low-toxicity, thermal stability, low density, relative abundance and low cost of production. Although significant enhancements in ZT have been achieved using the nanostructuring route, additional decoupling of the thermal and electric transport terms is still necessary in order for silicon-based materials to be viable for thermoelectric applications such as waste heat recovery or radioisotope thermoelectric generators. It is theorized that additional increases in ZT could be achieved by forming composites with nanostructured inert inclusions to further scatter the heat-carrying phonons. Here we present the impact of insulating and conductive nanoparticle composites on ZT. The nanostructured composites are formed via ball milling and high pressure sintering of the nanoparticles. The thermoelectric properties and microstructure of the silicon-based composites are discussed.