Wire-fed electron beam directed energy deposition (EB-DED) is gaining increasing attention owing to its significant advantage of producing high-quality, large-scale metallic components. In this study, EB-DED of a near-α titanium alloy (Ti–6Al–2Zr–1Mo–1V) was conducted, and the effect of post-deposition single annealing treatment on the microstructure, texture, and anisotropy of the tensile properties was investigated. Optical microscopy, scanning electron microscopy, electron backscatter diffraction, and transmission electron microscopy were employed to study the microstructure and texture characteristics. The tensile properties along the vertical (Z axis) and horizontal (Y axis) directions were evaluated at both room temperature and 500 °C. The results indicated that the prior β grains had a strong < 001 >β texture along the grain growth direction. Although the α variant selection occurred in some micro-regions, the overall α phase texture was weak. In terms of tensile properties, the vertical specimens exhibited lower strength but higher ductility than the horizontal specimens at both room and elevated temperatures. The anisotropic elongation results from the directional columnar prior β grains and continuous grain boundary α phase, which facilitated the intergranular cracking. The tensile strength and ductility were simultaneously enhanced by annealing at 950 °C for 2 h to meet the standard requirements for wrought counterparts. Moreover, the anisotropy of the tensile properties was decreased significantly. The enhanced and isotropic mechanical properties can be attributed to the combined effect of the bi-lamellar microstructure, discontinuous grain boundary α phase, and the weak α texture.