A new non‐equiatomic 35Ti‐35Zr‐20Nb‐5Ta‐5Ag at % high entropy alloy (HEA) is designed by combining the HEA concept with the properties required for bioimplants. Mechanical alloying is used to synthesize the HEA, which is then compacted at 550 and 700 MPa and sintered at 1300 oC. The phases, microstructure, and mechanical properties are investigated, and in vitro corrosion properties are studied in a simulated body fluid. After 20 hours of mechanical alloying, a single BCC phase with a nanocrystalline size of 3.6 nm was formed. After sintering, the microstructure is composed of dual‐phase BCC structures: the major BCC 1 phase, the grain boundary BCC 2 phase, and the ultra‐fine equiaxed phase. The results of the micro‐indentation test indicate that the elastic modulus of the HEA is 84.4 ± 8.7 GPa and 113.2 ± 13.36 GPa, and its Vickers microhardness is 3.47 ± 0.1 GPa and 5.35 ± 0.2 GPa when it was compacted at 550 and 700 MPa respectively. The corrosion resistance tests reveal that HEA compacted at 700 MPa has higher corrosion resistance than commercial Ti6Al4V alloy. The developed Ti‐Zr‐Nb‐Ta‐Ag HEA has improved corrosion resistance and a lower elastic modulus, making it a potential candidate for bioimplant applications.This article is protected by copyright. All rights reserved.