The stability of ReB2-type hexagonal OsB2 powder at high temperature with oxygen presence has been studied by thermogravimetric analysis, differential scanning calorimetry, SEM, EDS, and high-temperature scanning transmission electron microscopy and XRD. Results of the study revealed that OsB2 ceramics interact readily with oxygen present in reducing atmosphere, especially at high temperature and produces boric acid, which decomposes on the surface of the powder resulting in the formation of boron vacancies in the hexagonal OsB2 lattice as well as changes in the stoichiometry of the compound. It was also found that under low oxygen partial pressure, sintering of OsB2 powders occurred at a relatively low temperature (900 degrees C). Hexagonal OsB2 ceramic is prone to oxidation and it is very sensitive to oxygen partial pressures, especially at high temperatures.