Microstructures and tensile properties of a new type near a titanium alloy CT20 under different heat treatment systems were studied. The results indicate that the new alloy has good tensile properties at room temperature and relatively high tensile plasticity at 20 K. It can be used for cryogenic engineering. Tensile ductility of lamellar microstructure is higher than that of equiaxed one at 20 K. Its deformation process consists of twinning and slipping. The deformation of the alloy is by mutual action of twinning and slipping.