In this investigation, the effects of different deformation passes—namely, single pass and multipass—on the microstructural evolution and deformation mechanisms in the Ti–6.5Al–2Zr–1Mo–1V alloy are analyzed. It is observed that following a single‐pass hot compression, the extent of lamellar α phase spheroidization enhances as the temperature increases. During multipass hot compression, there is a gradual reduction in the size and concentration of equiaxed α phase, alongside an increase in spheroidization. Dislocation density escalates to 15.88%, while the proportion of high‐angle grain boundaries (HAGBs) diminishes to 75.24%. Static recrystallization occurring during the holding process facilitates dislocation annihilation. The dynamic phase transformation mechanism manifests through interfacial permeation at the primary α phase. Strain localization at the boundaries or sub‐boundaries of the primary α phase, which exhibit minimal curvature, induces elevated shear stress, thereby promoting the shearing of the primary α phase and reducing its presence. Texture components predominantly observed are <‐12‐10>//Z0 and <0001>//Z0, transitioning from <‐12‐10> to <0001> with increasing strain.