Metal oxide thermal reduction, enabled by microwave-induced plasma, was used to synthesize high entropy borides (HEBs). This approach capitalized on the ability of a microwave (MW) plasma source to efficiently transfer thermal energy to drive chemical reactions in an argon-rich plasma. A predominantly single-phase hexagonal AlB2-type structural characteristic of HEBs was obtained by boro/carbothermal reduction as well as by borothermal reduction. We compare the microstructural, mechanical, and oxidation resistance properties using the two different thermal reduction approaches (i.e., with and without carbon as a reducing agent). The plasma-annealed HEB (Hf0.2, Zr0.2, Ti0.2, Ta0.2, Mo0.2)B2made via boro/carbothermal reduction resulted in a higher measured hardness (38 ± 4 GPa) compared to the same HEB made via borothermal reduction (28 ± 3 GPa). These hardness values were consistent with the theoretical value of ~33 GPa obtained by first-principles simulations using special quasi-random structures. Sample cross-sections were evaluated to examine the effects of the plasma on structural, compositional, and mechanical homogeneity throughout the HEB thickness. MW-plasma-produced HEBs synthesized with carbon exhibit a reduced porosity, higher density, and higher average hardness when compared to HEBs made without carbon.