The present study demonstrates that Ti-based metallic glass matrix composites (MGMCs) with a normal composition of Ti43Zr32Ni6Ta5Be14 containing ductile dendrites dispersed in the glass matrix has been developed, and deformation mechanisms about the tensile property have been investigated by focusing on twinning-induced plasticity (TWIP) effect. The Ti-based MGMC has excellent tensile properties and pronounced tensile work-hardening capacity, with a yield strength of 1100 MPa and homogeneous elongation of 4%. The distinguished strain hardening is ascribed to the formation of deformation twinning within the dendrites. Twinning generated in the dendrites works as an obstacle for the rapid propagation of shear bands, and then, the localized necking is avoided, which ensures the ductility of such kinds of composites. Besides, a finite-element model (FEM) has been established to explain the TWIP effect which brings out a work-hardening behavior in the present MGMC instead of a localized strain concentration. According to the plasticity theory of traditional crystal materials and some new alloys, TWIP effect is mainly controlled by stacking fault energy (SFE), which has been analyzed intensively in the present MGMC.