An ultrafine grained (UFG) Ti–47Al–2Cr (at.%) alloy has been synthesized using a combination of high energy mechanical milling and hot isostatic pressing (HIP) of a Ti/Al/Cr composite powder compact. The material produced has been tensile tested at room temperature, 700 and 800 °C, respectively, and the microstructure of the as-HIPed material and the microstructure and fracture surfaces of the tensile tested specimens have been examined using X-ray diffractometry, optical microscopy, scanning electron microscopy and transmission electron microscopy. The alloy shows no ductility during tensile testing at room temperature and 700 °C, respectively, but very high ductility (elongation to fracture 70–100%) when tensile tested 800 °C, indicating that its brittle to ductile transition temperature (BDTT) falls within the temperature range of 700–800 °C. The retaining of ultrafine fine equiaxed grain morphology after the large amount of plastic deformation of the specimens tensile tested at 800 °C and the clear morphology of individual grains in the fractured surface indicate that grain boundary sliding is the predominant deformation mechanism of plastic deformation of the UFG TiAl based alloy at 800 °C. Cavitation occurs at locations fairly uniformly distributed throughout the gauge length sections of the specimens tensile tested at 800 °C, again supporting the postulation that grain boundary sliding is the dominant mechanism of the plastic deformation of the UFG TiAl alloys at temperatures above their BDTT. The high ductility of the UFG alloy at 800 °C and its fairly low BDTT indicates that the material a highly favourable precursor for secondary thermomechanical processing.