Fully dense powder metallurgy (PM) Ti-4Fe-0.2O-3Cu-0.4Si alloy was produced employing spark plasma sintering (SPS) and hot extrusion aiming to develop an inexpensive high strength dual-phase (alpha+beta) Ti alloy. The microstructure consisted of globularized fine grain a phase dispersed in the beta matrix having the sharp texture of <10<(1)over bar>0>//extrusion direction. The tensile strength of alloy (similar to 1060 MPa) is comparatively higher than the conventional Ti-6Al-4V alloy produced by a similar method. Based on theoretical calculations the grain refinement and solid solution phenomena were the principal strengthening mechanisms. Additionally, it was found that Si solute remarkably enhanced the microstructure stability (using in situ EBSD observation) and yield strength of alloy at high-temperature.