Detecting and characterizing inclusions in metallic materials is crucial in nondestructive testing and imaging to ensure structural integrity and reliability. In the field of nondestructive material assessment, infrared thermographic imaging is a well-established technology. This approach analyzes the thermal profile collected over a test specimen to find surface and sub-surface abnormalities. Infrared thermography has demonstrated rising interest in coded thermal excitation techniques and the accompanying data processing technologies in recent years. However, using coded excitations in thermal nondestructive testing is still uncommon. This research investigates the viability of using complementary Golay-coded (CGC) excitation in active thermography. This unique method displays its usefulness in improving the detection sensitivity and resolution by efficiently minimizing the side lobes of the compressed pulse. The current analytical study demonstrates the flaw detection capability of Golay-coded thermal wave imaging (GCTWI) for analyzing titanium alloy materials with anomalies such as inclusions. The research replicates thermal wave propagation and interaction with various inclusion geometries and sizes at the same depths. Furthermore, a comparison study is done between GCTWI analytical and simulation models to validate these models. The correlation coefficient is used as a figure of merit to assess GCTWI’s ability to identify and precisely localize these inclusions. The results show that GCTWI has better fault detectability and spatial resolution capabilities, making it a viable approach for inclusion inspection. Overall, this study advances nondestructive testing and imaging approaches by proving the capability of GCTWI for the reliable and efficient identification of inclusions in Titanium Alloy (Ti-6Al-4V). The study’s findings can help to develop more effective inspection procedures for assuring and maintaining the structural integrity of Ti-6Al-4V components in various sectors, including aerospace, automotive, and biomedical engineering.