Microstructure and mechanical properties of two TiAl-based alloys with nominal composition Ti-42.6Al-8.7Nb-0.3Ta-2.0C and Ti-41.0Al-8.7Nb-0.3Ta-3.6C (in at.%) were investigated and compared. The alloys were prepared by vacuum induction melting, followed by centrifugal casting. The as-cast samples were subjected to hot isostatic pressing and heat treatment consisting of solution annealing in β (Ti-based solid solution) phase field, cooling at a constant rate and stabilization annealing. The microstructure of the alloys consists of α2 (Ti3Al) + γ (TiAl) lamellar grains, single γ phase, coarse Ti2AlC particles, and irregular shaped α2 phase. The increase in the content of C at the expense of decreasing Al in the studied alloys affects solid-state phase transformation temperatures and leads to a decrease in size of grains and primary Ti2AlC particles, increase in the volume fraction of reinforcing carbide particles, decrease in the volume fraction of lamellar colonies, and widening of the grain boundaries. Long-term ageing at 800 °C has no effect on the grain size but leads to the formation of Ti4Al3Nb particles and increase in interlamellar spacing. The Vickers hardness, microhardness of lamellar grains, indentation nanohardness, and elastic modulus of the boundary γ phase decrease during ageing. The Ti-42.6Al-8.7Nb-0.3Ta-2.0C alloy shows improved creep resistance compared to that of Ti-41.0Al-8.7Nb-0.3Ta-3.6C and some reference TiAl-based alloys at a temperature of 800 °C and applied stress of 200 MPa.