The studies showed that as a result of radial-shear rolling (RSR) in the temperature range of 850-650°C the formation of a quasi-globular ultrafine grain-subgrain structure with a size of structural elements of about 0.5-0.7 μm is observed in near β titanium alloy Ti-5Al-5V-5Mo-1Cr-1Fe. Subsequent annealing (aging) in the temperature range of 450°C for 5 hours leads to the decomposition of the β-phase matrix deformed during the rolling process with the formation of nanosized acicular precipitates of the martensitic α" phase along with finely dispersed inclusions of α phase particles preserved after rolling. The formation of such ultrafine-grained (UFG) structure leads to a significant (more than 25%) increase in the strength properties of the alloy compared to the initial state while maintaining sufficient ductility (~5%). Also obtained by the method UFG titanium alloy exhibits a high fatigue strength under very high cycle loading (fatigue strength based on 108 cycles exceeds 700 MPa).