Ever-increasing significance of composite materials with high thermal conductivity, low thermal expansion coefficient and high optical bandgap over the last decade, have proved their indispensable roles in a wide range of applications. Hexagonal boron nitride (h-BN), a layered material having a high thermal conductivity along the planes and the band gap of 5.9 eV, has always been a promising candidate to provide superior heat transfer with minimal phonon scattering through the system. Hence, extensive researches have been devoted to improving the thermal conductivity of different matrices by using h-BN fillers. Apart from that, lubrication property of h-BN has also been extensively researched, demonstrating the effectivity of this layered structure in reduction of friction coefficient, increasing wear resistance and cost-effectivity of the process. Herein, an in-depth discussion of thermal and tribological properties of the reinforced composite by h-BN will be provided, focusing on the recent progress and future trends.