In order to reduce the cost of manufacturing semi-finished products of titanium and titanium alloy, a mixture of titanium hydride, titanium hydride and aluminum-vanadium master alloy is used as raw material, the TA2 and TC4 porous billets for rolling are prepared by powder metallurgy process, and the microstructure and mechanical properties of the alloy after hot rolling are studied. The results show that in the hot-rolling process with different degrees of deformation (50% and 75%), the residual porosity is eliminated effectively and the microstructure characteristics are modified (the α phase formed along previous β grain boundary disappears). This results in the significant improvement of the strength and ductility of the TA2 and TC4 alloys. And compared with the traditional process, due to eliminating the ingot melting step, the price of titanium and titanium alloy rolled products is reduced.