The aim is, first, to optimize gas atomization of a γ‐TiAl alloy at the laboratory scale (atomized mass < 150 g) and, second, to investigate the microstructure of the produced powders. Gas atomization variables, such as the gas pressure and the melt temperature, are adjusted to produce the highest yield of particles with sizes smaller than 150 μm. The morphology and microstructure of these powders is characterized by scanning electron microscopy, as well as electron backscattered diffraction. The fine particles of interest are found to be single α2 polycrystals with spherical shape and negligible porosity. Overall, these particles meet the morphological requirements of raw powders for additive manufacturing powder‐based methods, provided the small loss of Al that takes place during melting is compensated by increasing the amount of this component in the starting alloy.