We consider the quantum mechanics of directly interacting relativistic particles of spin-zero and spin-half. We introduce a scalar product in the vector space of physical states which is finite, positive definite and relativistically invariant and keeps orthogonal eigenstates of total four momentum belonging to different eigenvalues. This allows us to show that the vector space of physical states is, in fact, a Hilbert space. The case of two particles is explicitly considered and the Cauchy problem of physical wave function illustrated. The problem of a spin-1/2 particle interacting with a spin-zero particle is considered and a new equation is proposed for two spin-1/2 particles interacting via the most general form of interaction possible. The restrictions due to Hermiticity, space inversion and time reversal invariance are also considered.