Effects of the additions of SiB4 as burnable poison to UO2 on the green density, densification, interdependence between density-grain growth and microstructure of sintered UO2 were studied. UO2 pellets were sintered in flowing hydrogen, at temperature 1200, 1350, 1500, and 168$0^{circ}C$ for 3 hours and at 168$0^{circ}C$ for 0, 1, 3, and 10 hours, respectively. Green densities were in the range of about 4.5~5.4 g/㎤, and decreased as the amount of SiB4 increased when green pellets were made by with use of a double action press at 1000 kg/$ extrm{cm}^2$. The density of sintered UO2 pellets was around 92~94% of the theoretical density and did not change significantly as the amount of SiB2 addition increased. However, the density of sintered pellets decreased with the increase in SiB4. The grain growth could be characterized in terms of two stages: Grain growth occurred with the increasing density in the first stage, whereas the second stage was characterized by the grain growth without increasing of density. A liquid phase was observed at grain boundaries and grain edges in the microstructure of sintered UO2 pellets with 5000 ppm and 10,000 ppm SiB4. This liquid, possible formed at about 168$0^{circ}C$, did not enhance the shrinkage, but appeared to accelarate the grain growth. It seems that the second stage grain growth was due to the presence of pressurized insoluble trapped gas in isolated pores.