The ultrafine titanium carbonitride particles ($TiC_{0.7}N_{0.3}$) below 100nm in mean size were successfully synthesized by Mg-thermal reduction process. The nanostructured sub-stoichiometric titanium carbide ($TiC_{0.7}$) particles were produced by the magnesium reduction at 1123K of gaseous $TiC_{l4}+xC_2Cl_4$ and the heat treatments in vacuum were performed for five hours to remove residual magnesium and magnesium chloride mixed with $TiC_{0.7}$. And final $TiC_{0.7}N_{0.3}$ phase was obtained by nitrification under normal $N_2$ gas at 1373K for 2 hrs. The purity of produced $TiC_{0.7}N_{0.3}$ particles was above 99.3% and the oxygen contents below 0.2 wt%. We investigated in particular the effects of the temperatures in vacuum treatment on the particle refinement of final product.