Titanium alloys are widely used in the manufacture of gas turbines’ compressor blades. Elucidating their mechanical behavior and strength under damaged conditions is the key to evaluating the equipment’s reliability. However, the conventional Johnson-Cook (J-C) constitutive model has limitations in describing the dynamic response of titanium alloy materials under the impact of a high strain rate. In order to solve this problem, the mechanical behavior of a TC4 titanium alloy under high strain rate and different temperature conditions was analyzed by combining experiments and numerical simulations. In this study, the parameters of the J-C model were analyzed in detail, and an improved J-C constitutive model is proposed, based on the new mechanism of the strain rate strengthening effect and the temperature softening effect, which improves the accuracy of the description of strain sensitivity and temperature dependence. Finally, the VUMAT subroutine of ABAQUS software was used for numerical simulation, and the predictive ability of the improved model was verified. The simulation results showed that the maximum prediction error of the traditional J-C model was 23.6%, while the maximum error of the improved model was reduced to 5.6%. This indicates that the improved J-C constitutive model can more accurately predict the mechanical response of a titanium alloy under an impact load and provides a theoretical basis for the study of the mechanical properties of titanium alloy blades under subsequent conditions of foreign object damage.