Effects of holding temperature and time at (β+γ) two phase region on the microstructure of fully lamellar Ti-46Al-7Nb-0.7Cr-0.2Ni-0.1Si (mol%) intermetallic compounds are studies. Fully lamellar microstructure is observed after homogenization heat treatment for 3.6 ks at 1643 K (α single phase state). Fine β phased grains precipitate at fully lamellar structure after heat treatment of homogenized material at 1373 K. Holding the homogenized material for 72 ks at 1373 K decompose partially the lamellar structure. Heat treatment of homogenized material at 1273 K also precipitates the fine β phased grains in fully lamellar structure. In this temperature range, decomposition of lamellar structure is not observed up to 72 ks heat treatment. The toughness of homogenized material is ~ 15 MPa√m. Heat treatment of homogenized material at 1373 K and 1273 K for 3.6 ks indicates maximum fracture toughness in each temperature range. This may due to the precipitation of fine β phased grains. The fracture toughness decreases with the increase in heat treatment time up to 18 ks and/or 36 ks. Then, the value of fracture toughness became constant. Specimens heat treated at 1373 K for 36 ks and 72 ks indicate lower toughness than homogenized material. However, when the specimens are heat treated at 1273 K for 36 ks and 72 ks, the toughness is higher than that of homogenized material. This change is due to the decomposition of the lamellar structure.