We deal with the temperature fluctuations of the carrier fluid and particles in turbulent two-phase flows. The analysis of the temperature fluctuations is based on the modified mixing-length theory, which was used previously to evaluate the intensity of turbulent fluctuations in two-phase polydisperse flows. The dependences of the temperature fluctuations of the interacting phases on the particle sizes, the mass content of the admixture and its composition and physical properties have been predicted. The effect of heat transfer by radiation on the intensity of temperature fluctuations in two-phase flow is estimated.