The activation energy of the β → α/ω phase transformation increased monotonously with the application of a continuous heating process to a Ti-15Mo-2.7Nb-3Al-0.2Si alloy. Precipitation behaviour of the alloy aged at different temperatures were analysed with scanning electron microscopy, electron backscattered diffraction and transmission electron microscopy. Selected-area diffraction patterns of the ω, ω/α and α phases in the alloy aged at different temperatures indicated that the type of phase transformation was influenced by the precipitation process. Precipitate-free zones in the alloy aged at 450 °C for 8 h were harmful to the mechanical performance. Fine α precipitates with an obvious texture were obtained in the alloy aged at 500 °C. A good combination of tensile properties with an ultimate tensile strength of 1310 MPa and an elongation of 13.5% were obtained due to the expected microstructure and texture of the precipitates that transformed in the specimen when it was aged at 500 °C for 8 h. The size of the precipitates increased with increasing aging temperature. Furthermore, the amount of precipitates and their degree of texture decreased substantially in the alloy aged at 600 °C. The investigation of the tensile properties and fractures also revealed a correlation between the mechanical properties and precipitation behaviour in the Ti-15Mo-2.7Nb-3Al-0.2Si alloy aged at different temperatures.