The heat treatment and cold rolling combinations have been carried out on titanium alloy Ti6Al2V2Zr1.5Mo, and microstructure evolution and mechanical behavior have been studied. Solution treatment below the β-transus temperature, followed by air cooling, resulted in higher microhardness/strength as compared to the same with water quenching. A sudden drop in microhardness/strength is observed in sample solution heat-treated above β-transus temperature followed by air cooling. The former is attributed to the additional presence of fine secondary α-phase formed by dynamic aging during air cooling as compared to water-quenched samples which did not have fine secondary α-phase. Solution treatment above β-transus temperature resulted in Widmanstatten microstructure with no significant fine secondary α in air-cooled samples. Among the studied conditions of cold rolling (CR), gain in strength of the alloy from annealed condition is significant with first 15% reduction and thereafter it is marginal for 30% reduction. Initiation of cracks at the edges has been observed in 30% CR. The microstructure of cold-rolled samples confirms the fragmentation of α-plates with the presence of high dislocation density. Heat treatment of cold-rolled samples resulted in significant reduction in strength from the as-cold-rolled conditions. The marginally lower strength than the as-received (annealed) or heat-treated alloy samples is due to the recrystallization in CR samples and the formation of Widmanstatten microstructure in air-cooled samples. The alloy does not have fine secondary α or regions with large dislocation density in this condition. The microstructure in the samples heat-treated (with air cooling) below as well as above β-transus temperature (after CR) is similar to air-cooled samples (without prior CR) with heat treatment above β-transus temperature. This indicates the reduction in recrystallization temperature with cold working, which is substantiated with the reduction in strength as well. © 2018, ASM International.