The aim of this study is to produce composite materials by recycling metallic chips, which are found in industry as a large amount of waste. In addition, it is aimed to investigate the effect of ultrasonic cleaning process as the consolidation behavior and mechanical properties of bulk material directly depend on the cleaning of waste metallic chips. In the present investigation, spheroidal graphite cast iron (GGG-40) was employed as reinforcement material in tin bronze (CuSn10) matrix system. GGG-40 and CuSn10 chips were cleaned by ultrasonic agitation in water for 20 and 40 min. Consolidation of the cleaned metallic chips was achieved with a hot press by applying 820 MPa pressure under 450 °C, and the cylindrical and prismatic metal matrix composite materials with different reinforcement ratios were successfully produced. Energy-dispersive X-ray and scanning electron microscopy analyses were carried out to determine the amount of the oxide removed from the surfaces of chips. The mechanical properties of the samples were determined by hardness, porosity, compression and three-point bending tests. According to the results of the analyses, it was found that CuSn10 surfaces were cleaned from 20%, 50% and GGG-40 surfaces from 35%, 39% oxides during 20- and 40-min cleaning time, respectively. In addition, the results of the mechanical tests revealed that increased ultrasonic cleaning time improves the consolidation quality of metallic chips and it provides successful covering of GGG-40 chips by the CuSn10 chips as a result of a better structural integrity. New machinery parts with high mechanical properties can be produced as a result of recycling of the metallic chips which are available as waste in industry by appropriate cleaning process and this situation makes this study more innovative, economical and environmentally friendly research.