Displacement members for use in forming a bit body of an earth-boring rotary drill bit include a body having an exterior surface, at least a portion of which is configured to define at least one surface of the bit body as the bit body is formed around the displacement member. In some embodiments, the body may be hollow and/or porous. Methods for forming earth-boring rotary drill bits include positioning such a displacement member in a mold and forming a bit body around the displacement member in the mold. Additional methods include pressing a plurality of particles to form a body, forming at least one recess in the body, positioning such a displacement member in the recess, and sintering the body to form a bit body.
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