The microstructural and mechanical features were investigated for the alloy Ti-36.5Nb-4.5Zr-3Ta-0.16O (wt.%) subjected to thermo-mechanical processing consisting of a series of hot and cold rolling combined with solution treatments with particular parameters. The objective was to find the optimal thermo-mechanical treatment variant to improve the mechanical properties, and namely, to increase the yield tensile strength (YTS) and the ultimate tensile strength (UTS), with a low modulus of elasticity and with an adequate ductility in order to obtain a good biomaterial appropriate for use in hard tissue implants. X-ray diffraction and SEM microscopy served to investigate the microstructural features: the type of formed phases with their morphology, dimensions, and distribution. The experimental alloy presented mainly a β-phase with some α″-Ti martensitic phase in particular stages of the processing scheme. The main mechanical properties were found by applying a tensile test, from which were determined the yield tensile strength [MPa], the ultimate tensile strength [MPa], Young’s modulus of elasticity [GPa], and the elongation to fracture (%).