Titanium and titanium alloys are important lightweight structural materials in the fields of aviation, aerospace and defense weapons. The low elastic modulus of Ti alloy gives it excellent elastic function, and it is applied to fasteners, springs and other elastic components in aviation, aerospace and other industries. The currently used high-strength Ti alloys exhibit high Young’s modulus that can not fully meet the application requirements. The balance between high strength and high elastic property of conventional Ti alloys needs to be further improved.This paper reviews the current research and development of high strength and high elasticity Ti alloys. Based on the comprehensive understanding of high strength and high elasticity Ti alloys and the existing problems, the composition design method based on electronic theories and the structure design strategy based on phase stability of β-matrix of Ti alloys with high strength and high elasticity is proposed in this paper. The research progress of novel Ti alloys with high strength and high elasticity based on the proposed alloy design strategy is also briefly presented. Finally, the future research direction of Ti alloys with high strength and high elasticity is prospected.