In the paper, microstructure design by means of hot working and heat treatment as well as some mechanical properties have been considered for intermetallic alloys based on γ(TiAl) and O(Ti2AlNb) phase. It has been shown that the current scientific and technical knowledge creates the prerequisites for development of both cast and wrought processing methods of these intermetallic alloys, particularly based on superplastic processing. In the paper, the results on discontinuously reinforced metal matrix Ti/TiB based composites produced in situ via conventional casting were also presented. For the matrix made of the alloy VT18U (Ti-6.8Al-4Zr-2.5Sn-1Nb-0.7Mo-0.15Si, wt. %), it has been demonstrated that the presence of TiB whiskers provided significant enhancement in strength and creep resistance as compared with those of the matrix alloy.