Ti-Al intermetallic compounds (Ti-Al IMCs) are emerging as lightweight, high-temperature structural materials with considerable application potential. Owing to their low density and high-temperature capability, these materials can improve the thrust-to-weight ratio of aeroengines, enhance the high-temperature service performance of aircraft, increase fuel efficiency, and improve adaptability to harsh environments. However, their intrinsic room-temperature brittleness leads to high cutting forces, elevated cutting temperatures, and severe tool wear during machining, making it difficult to ensure machining quality and limiting their large-scale applications in the aerospace industry. Ultrasonic vibration-assisted machining (UVAM) introduces a high-frequency, low-amplitude intermittent cutting mechanism that actively regulates material removal and offers a feasible route for overcoming the machining bottleneck of Ti-Al IMCs. This review summarizes the recent progress in UVAM for machining Ti-Al IMCs. First, the typical applications and machining characteristics of Ti-Al IMCs are discussed. Existing studies are then reviewed in terms of cutting performance, including cutting force, cutting temperature, chip morphology, tool wear, and post-machining surface integrity, including surface roughness, surface defects, residual stress, and work hardening. The reviewed evidence indicates that UVAM can reduce cutting forces and temperatures, improve chip morphology, and extend the tool life. It can also improve machined surface integrity by decreasing surface roughness, suppressing surface defects, inducing beneficial residual compressive stress layers, and regulating work-hardening behavior. This review provides systematic theoretical guidance and technical references for improving the machinability of Ti-Al IMCs via UVAM, thereby enabling the controllable, high-performance, and high-reliability fabrication of these difficult-to-machine materials in aerospace precision manufacturing.