The microstructure, tensile property and fracture toughness of 2397-T87 Al-Li alloy plate were investigated by optical microscopy, scanning electron microscopy, transmission electron microscopy, X-ray diffraction, tensile and plane-strain fracture toughness tests. The results show that a pronounced texture variation through the plate thickness is found. Near the surface, Goss texture is dominating. While in the center of the plate, typical β fiber texture and a scattering of cube texture are observed. And the subsurface layer exhibits a very weak texture. From the center to the subsurface, the fraction of β fiber texture and cube texture decreases; in contrast, the fraction of shear type texture reaches the maximum in subsurface layer. The tensile properties in different layers along the thickness direction are inhomogeneous. The strength near the surface is lower than that in the center. And the through-thickness strength properties variation in the rolling direction is more remarkable than that in the long transverse direction. In the same thickness layer, the fracture toughness and the strength are anisotropic. The strength in the rolling direction is higher than that in the long transverse direction and the short transverse direction, and the strength in the short transverse direction is the lowest. The fracture toughness in L-T orientation is the highest, followed by that in T-L orientation, and the fracture toughness in S-L orientation is the lowest.