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PROBLEM TO BE SOLVED : To provide a high strength α+β type titanium alloy in which a long-term working temperature reaches 450°C and a cost performance ratio is remarkably better than that of a Ti-6A alloy. SOLUTION : The α+β type titanium alloy containing, by weight%, 7 to 8.5 aluminum, 0.5 to 1.5 vanadium, 1 to 4 molybenum, 1 to 3 chromium, 0.3 to 1 iron and 0.05 to 0.1 rare earth element and the balance titanium and inevitable impurities is disclosed. The tensile strength and yield strength at room temperature of the titanium alloy are improved to be ≥30% as compared to those of Ti-6Al-4V alloy and the high temperature strength is also remarkably superior to that of the Ti-6Al-4V alloy. Since density and cost are slightly lower than those of the Ti-6Al-4V alloy, the titanium alloy has the further superior cost performance ratio as compared to the Ti-6Al-4V alloy. COPYRIGHT : (C)2009, JPO&INPIT