Herein, an overview of the recent research on the relationship between the ultrafine‐grained (UFG) structure of titanium and its alloys and the physical and mechanical properties of the materials, as well as the formation of advanced functional and service properties, including fatigue strength, creep behavior, and impact and fracture toughness is presented. It is shown that due to the record properties achieved in UFG titanium and its alloys, these materials have an innovative potential for successful application in medicine and engineering industries. Some of these works are carried out in cooperation with the team of Prof. Terence G. Langdon. Professor Langdon made a significant contribution to the development of modern materials science in the field of nanostructured metallic materials.