Electrolytic plasma polishing (EPPo) is an advanced metal surface finishing technology with high quality and environmental protection that has broad application prospects in the biomedical field. However, the effect of EPPo on surface properties such as corrosion resistance and the wettability of biomedical titanium alloys remains to be investigated. This paper investigated the changes in surface roughness, surface morphology, microstructure, and chemical composition of Ti6Al4V alloy by EPPo and their effects on surface corrosion resistance, wettability, and residual stress. The results showed that Ra decreased from 0.3899 to 0.0577 μm after EPPo. The surface crystallinity was improved, and the average grain size increased from 251 nm to more than 800 nm. The oxidation behavior of EPPo leads to an increase in surface oxygen content and the formation of TiO2 and Al2O3 oxide layers. EPPo can significantly improve the corrosion resistance and wettability of titanium alloy in simulated body fluid and eliminate the residual stress on the sample surface. The surface properties are enhanced not only by the reduction in surface roughness but also by the formation of a denser oxide film on the surface, changes in the microstructure, an increase in surface free energy, and the annealing effect developed during EPPo. This study can provide guidance and references for applying EPPo to biomedical titanium alloy parts.