The effects of electron beam melting parameters on the volatilization behavior of elements and the microstructures of ingots were investigated on a β-type Ti-Mo binary alloy. The microstructures of the ingots consisted of large and columnar grains at their bottom and top sections, respectively, and they were similar at different melting powers, from 10.5 kW to 15.0 kW, and the melting time ranging from 10 min to 40 min, without apparent metallurgical defects. Mass losses of ingots exhibited an increasing tendency, with increases of both melting power and melting time. Combined with a theoretical calculation and X-ray fluorescence results, Ti was identified as the main volatilization element due to its much higher vapor pressure than that of the Mo element. The considerable compensation method of the volatile Ti element was established in terms of theoretical and experimental results, which could provide a guidance for fabricating composition-controllable Ti-Mo binary alloys via electron beam melting technology.