Titanium aluminides have attracted special interest as light-weight/high-temperature materials for structural applications. The major problem limiting practical use of these compounds is their poor ductility and formability. The powder metallurgy processing route has been an attractive alternative for such materials. A mixture of Ti and Al elemental powders was fabricated to a mechanical alloying process. The processed powder was hot pressed in a vacuum, and a fully densified compact with ultra-fine grain structure consisting of Ti3Al intermetallic compound was obtained. During the compressive deformation of the compact at 1173 K, typical dynamic recrystallization (DR), which introduces a certain extent of grain refinement, was observed. The compact had high density and consisted of an ultra-fine equiaxial grain structure. Average grain diameter was 1.5 μm. Typical TEM micrographs depicting the internal structure of the specimen deformed to 0.09 true strain are provided, in which it can be seen that many small recrystallized grains having no apparent dislocation structure are generated at grain boundaries where well-developed dislocations with high density are observed in the neighboring grains. The compact showed a large m-value such as 0.44 at 1173 K. Moreover, the grain structure remained equiaxed during deformation at this temperature. Therefore, the compressive deformation of the compact was presumed to progress by superplastic flow, primarily controlled by DR.