The development of a Ti-34Nb-6Sn alloy by the powder metallurgy method, employing two different compaction conditions, A (100 MPa) and B (200 MPa), was carried out. To evaluate the feasibility of the Ti-34Nb-6Sn alloy as an implant biomaterial, microstructural and mechanical characterizations, as well as corrosion susceptibility and ion release tests, were performed. Results indicated microstructures dominated by the presence of β-Ti phase and a lower percentage of α-Ti and Nb phases. The porosity percentage decreased when the compaction pressure increased. Both conditions presented a good match between the elastic moduli of the alloy (14.0 to 18.8 GPa) and that reported for the bone tissue. The Ti, Nb and Sn ions released for both compaction conditions were within the acceptable ranges for the human body. Condition B showed higher corrosion resistance in comparison with condition A. Based on the obtained results, the produced porous Ti-34Nb-6Sn alloys are feasible materials for orthopedic implant applications.