The aim of this work is to develop a multifunctional composite based on β-tricalcium phosphate (β-TCP) working as a single carrier that has a therapeutic function, as a calcium supplement, together with the capability for carrying low-dose drugs. The composite was prepared by blending synthetic β-TCP powder, sodium silicate, and citric acid. The synthetic β-TCP and its composite were characterized using X-ray powder diffraction, Fourier transform infrared spectroscopy, and scanning electron microscopy techniques. Mechanical testing and in-vitro drug release testing, using atenolol, of the fabricated tablets was conducted. The results revealed the synthesis of pure β-TCP powder and fabrication of optimal dense β-TCP-based composite. The β-TCP-based composite exhibited an optimal release behavior of atenolol together with releasing of synthetic β-TCP particles, a calcium supplement.