It is usually required that Ti-1300 alloys be able to withstand a greater load under special conditions, such as the controllable collision of a space shuttle and rapid collision of an automobile. Because of a good combination of strength and toughness, Ti-1300 alloys are widely applied in the aerospace industry. However, during the service process, the alloy components inevitably bear extreme loads. This paper uses high-speed tensile technology to systematically study the effects of different strain rates on the deformation of the microstructure and deformation mechanism of Ti-1300 alloys and to clarify a relation between the microstructure and mechanical properties. The results show that no phase transformation occurs during the high-speed tensile process at strain rates of 200 s⁻¹ and 500 s⁻¹. The deformation mechanism is mainly due to dislocation slip. The fracture mode is ductile fracture at the two strain rates, due to the connection between micro-voids promoted by dislocation slip. The ultimate tensile strengths are 1227 MPa and 1368 MPa, the yield strengths are 1050 MPa and 1220 MPa, and the elongations are 11.3% and 10.4%, respectively. The present results provide theoretical guidance for the further application of metastable β titanium alloys in working environments with high strain rates.