Thermal expansion is a common phenomenon in both metals and alloys, which is important for metallic material applications in modern industry, especially in nuclear and aerospace industries. A lower thermal expansion coefficient may cause lower thermal stress and higher accuracy. A new Zr-based alloy is developed and presented. The XRD diffraction results demonstrate that only a close-packed hexagonal phase (𝛼 or 𝛼 ′ phase) exists in the microstructure. The thermal expansion and mechanical properties are studied. According to the experimental results, the new Zr-based alloy presents a low thermal expansion coefficient and good mechanical properties. Also, its thermal expansion coefficient is stable through solution treatment.