The effect of the grain refinement and texture on tensile and fatigue properties in commercially pure titanium (grade 2) processed by rotary swaging (RS) and an annealing treatment is investigated. The as-processed sample consists of band-like grains on the longitudinal section and equiaxed grains on the transversal section and revealed an obvious fiber texture with respect to the rod axis. Through this technique, a sample with a high tensile strength of 870 MPa, a high uniform elongation of 8.5%, and a high fatigue limit of 490 MPa can be achieved, and the tensile and fatigue properties are almost the same as those of a conventional Ti-6Al-4V alloy. The enhanced mechanical properties and plastic deformation mechanism are discussed in terms of the observed ultrafine-grained microstructure and strong fiber texture.