A fine-grained alloy with a Ti-48Al-2Nb-2Cr (in atom pct) composition was prepared by Self-propagating High temperature Synthesis (SHS). The relationship among different compression ratio, microstructure, porosity, density, mechanical properties and residual stresses of the Ti-48Al-2Nb-2Cr alloy was studied by scanning electron microscopy, X-ray diffraction, neutron diffraction and mechanical testing. The results show that the morphology of the SHS-synthesized alloy is regular with the size of 4-25 μm. The main γ-TiAl phase and the α ₂ -Ti ₃ Al and TiAl ₃ phases were observed in the samples. The cell parameters of the γ-TiAl crystal lattice after SHS were determined. It was observed that during compression the processes of hardening as well as those of increasing residual stresses take place. The residual strains and stresses in bulk of the material were calculated.