A kind of low-density niobium-based alloy NbTiAlVZr with density of 5.9 g/cm3, the lowest density for refractory alloys, was prepared by arc-melting and processing method. The microstructure and mechanical properties were characterized by optical microscopy (OM), transmission electron microscope (TEM) and tensile test. Results show that the average ultimate tensile strength (UTS) and elongation of the samples are 990 MPa, 16% at room temperature, respectively and 80 MPa, 44% at 1100 oC, respectively. This new alloy combines TiC nano-particle dispersion strengthening with solution strengthening to increase the UTS, and retains enough plasticity for hot and cold processing