The high-temperature properties, microstructure evolution and deformation behavior of a novel Ti-43Al-6Nb-1Mo-1Cr(at.%) alloy were studied in this paper. The ultimate tensile strength (UTS) and elongation (δ) were tested at 800, 850, and 900°C, in which the excellent strength 551MPa, 510MPa, and 382MPa, and elongation 2.9%, 12.7%, and 16.8% were exhibited, respectively. Isothermal compression tests were carried out in the temperature range of 1100–1250°C and strain rate range of 0.001–1.0s−1. Based on dynamic materials model (DMM) and phase diagram, dynamic recrystallization mechanism and phase transformation during thermal deformation were clarified and the hot processing maps were calculated. The experimental results show that the values of stress exponent (n) and the apparent deformation activation energy (Q) of Ti-43Al-6Nb-1Mo-1Cr(at.%) were calculated to be 2.77 and 571KJ/mol. Meanwhile, three various types of microstructure evolution in different deformation conditions were discussed and concluded.