Earth-boring tools for drilling subterranean formations include a particle-matrix composite material comprising a plurality of silicon carbide particles dispersed throughout a matrix material, such as, for example, an aluminum or aluminum-based alloy. In some embodiments, the silicon carbide particles comprise an ABC—SiC material. Methods of manufacturing such tools include providing a plurality of silicon carbide particles within a matrix material. Optionally, the silicon carbide particles may comprise ABC—SiC material, and the ABC—SiC material may be toughened to increase a fracture toughness exhibited by the ABC—SiC material. In some methods, at least one of an infiltration process and a powder compaction and consolidation process may be employed.