The microstructures and mechanical properties of the TNTZ added with Y or Y2O3 have been investigated. The results indicate that TNTZ added with Y or 2O3 are found to be composed of β phase and the small amount of 2O3. The grain size of TNTZ added with Y or 2O3 is smaller than that of TNTZ. The Young's modulus of TNTZ added with Y or 2O3 are maintained at a low level, and Young's modulus of TNTZ added with Y is smaller than that of TNTZ added with 2O3. The mechanical properties are both improved by adding Y or 2O3, while the tensile strength of TNTZ added with 2O3 is slightly higher than that of TNTZ added with Y. The high cycle fatigue limit of the alloys added with Y or 2O3 are similar, while the low cycle fatigue strength of TNTZ added with Y is higher than that of TNTZ with 2O3. The improving of mechanical properties ascribes to the microstructure refinement and the pining effect of 2O3 particles. On the other hand, Y elements form 2O3 with the oxygen elements in the matrix, thus lead to the weakening of the oxygen solution effect.