Transition metal borides have a unique combination of high melting point and high chemical stability and are suitable for high temperature applications (>2000 °C). A metastable dual-phase boride (Ti_0.25V_0.25Zr_0.25Hf_0.25)B₂ with distinct two hexagonal phases and with an intermediate entropy formation ability of 87.9 (eV/atom)⁻¹ as calculated via the density functional theory (DFT) was consolidated by pulsed current sintering. Thermal annealing of the sintered dual-phase boride at 1500 °C promoted the diffusion of metallic elements between the two boride phases leading to chemical homogenization and resulted in the stabilization of a single-phase high-entropy boride. Scanning electron microscopy, in situ high temperature x-ray diffraction, and simultaneous thermal analysis of the as-sintered and annealed high-entropy borides showed the homogenization of a dual-phase to a single-phase. The experimentally obtained single-phase structure was verified by DFT calculations using special quasirandom structures, which were further used for theoretical investigations of lattice distortions and mechanical properties. Experimentally measured mechanical properties of the single-phase boride showed improved mechanical properties with a hardness of 33.2 ± 2.1 GPa, an elastic modulus of 466.0 ± 5.9 GPa, and a fracture toughness of 4.1 ± 0.6 MPa m^1/2.