We developed a new titanium alloy with high strength, low elastic modulus, high elasticity and plasticity after cold working. Thermo mechanical processing, ageing, recrystallization after cold working was conducted to change the mechanical properties. The release of the elastic deformation energy after cold working is help to get the low modulus, however, the precipitation of α phase hamper the formation and propagation of the fatigue crack. Recrystallization after cold working could refine the grain size from 100μm to 1～5μm. Cold working after recrystallization absolutely restricts the propagation of the fatigue crack. As a result, the fatigue strength was increased, and the same time, it keeps the low elastic modulus.