Refractory high-entropy alloys (RHEAs) have emerged as promising candidates for high-temperature applications owing to their distinctive mechanical properties. However, their limited tensile ductility and high density pose hurdles for further engineering utilization. In this study, we introduce a novel RHEA composition, Ti45Nb30Cr15V10 (at.%), distinguished by its reduced density (∼6.2 g/cm3), achieved through the assistance of CALPHAD (CALculation of PHAse Diagrams) modeling. The as-cast RHEA exhibits a single body-centered cubic (BCC) structure, demonstrating a tensile yield strength of ∼904 MPa along with a total elongation of ∼9.7 %. By employing cold rolling followed by recrystallized annealing (designated as the CRRA sample), we achieve notable enhancements in both strength and ductility. Specifically, the CRRA sample manifests an impressive tensile yield strength of ∼1010 MPa and a total elongation of ∼20.6 % at room temperature. Remarkably, even at an elevated temperature of 700 °C, the CRRA sample maintains notable strength, displaying a yield strength of ∼695 MPa. The observed dislocation behavior, transitioning from dual-system slip to multi-system slip, along with the intricate interactions of dislocation substructures (e.g., loops, tangles, networks, bands, and cells) and kink bands, are identified as the principal deformation mechanisms contributing to the exceptional tensile properties of the CRRA sample at room temperature. At 700 °C, the presence of wavy-slipping dislocations, induced by the strong pinning effect of component fluctuations, predominantly contributes to the strength of the CRRA sample. However, the emergence of Cr2(Ti, Nb, V) Laves phase at grain boundaries results in premature fracture. The extraordinary tensile properties exhibited by the CRRA sample at both room and elevated temperatures underscore its potential for advanced engineering applications.