Earth-boring tools for drilling subterranean formations include a particle-matrix composite material comprising a plurality of at least partially carburized monotungsten carbide and ditungsten carbide eutectic particles dispersed throughout a matrix material. In some embodiments, the particles are at least substantially fully carburized monotungsten carbide and ditungsten carbide eutectic particles. In further embodiments, the particles are generally spherical or at least substantially spherical. Methods of forming such particles include exposing a plurality of monotungsten carbide and ditungsten carbide eutectic particles to a gas containing carbon. Methods of manufacturing such tools include providing a plurality of at least partially carburized monotungsten carbide and ditungsten carbide eutectic particles or at least substantially completely carburized monotungsten carbide and ditungsten carbide eutectic particles within a matrix material.