Microstructure and properties of a near β titanium alloy after different heat treatments were studied. The results show that different match of strength and plasticity can be obtained by different heat treatments. After α+β solution and aging treatment, excellent strength (ultimate tensile strength of 1200-1500 MPa) and plasticity can be achieved. The mechanical property of the alloy is mainly controlled by the shape of primary α. The alloy also has the aging characteristics of common near-β titanium alloy, i.e. its strength decreases and plasticity increases with aging temperature rising