This study is conducted as a preliminary research to verify the feasibility of Ti-based Oxide dispersion strengthened (ODS) alloy. Pure-Ti powder is mixed with Y2O3 powder and subsequently, mechanically alloyed at -150oC. The Ti-based ODS powder is hot-isostatically pressed and subsequently hot-rolled for recrystallization. The microstructure consists of elongated grains and Y excess fine particles. The oxide particle size is larger than that of the typical Febased ODS steel. Tensile test shows that the tensile ductility is approximately 25%, while the strength is significantly higher than that of pure Ti. The high-temperature hardness of the Ti-ODS alloy is also significantly higher than that of pure Ti at all temperatures, while being lower than that of Ti-6Al-4V. The dimple structure is well developed, and no evidence of cleavage fracture surface is observed in the fracture surface of the tensile specimen.