The effect of hot isostatic pressing (HIP) temperature on the microstructure and mechanical properties of Ti-48 mol%Al-1 mol%Mn compacts fabricated by mechanical alloying was investigated. N-heptane was used as a process control agent for the mechanical alloying. The compacts HIP treated at 1173, 1373 or 1573 K showed an ultra-fine equiaxed grain structure, i.e., a microduplex structure, consisting of TiAl (γ) and Ti2AlC phases, and their average grain sizes were 185 nm, 510 nm and 1.5 μm, respectively. The γ phase was considered to be formed by an α→γ massive transformation during heating. On the other hand, the compacts HIP treated at 1623 or 1673 K showed quite different microstructures from the above HIP compacts. The 1623 K-HIP compact was composed of equiaxed γ grains, whose size was approximately 11.5 μm, rectangular shaped Ti2AlC particles, and a small amount of the grain boundary nucleated α phase. Although the 1673 K-HIP compact showed a microstructure similar to the 1623 K-HIP compact, the γ grains were coarsened to be approximately 27.8 μm in diameter and the Ti2AlC particles were more elongated rectangles. Furthermore, the amount of the grain boundary nucleated α phase was increased and the lamella α phase nucleated at γ twin boundaries was observed in the 1673 K-HIP compact. Mechanical properties determined by compressive testing at various temperatures made clear that the compacts HIP treated at 1173, 1373 or 1573 K have good workability at elevated temperatures and those HIP treated at 1623 or 1673 K have good high temperature strength. These mechanical properties were influenced significantly by the microstructure, especially by the grain size and morphology of the Ti2AlC phase.