As a representative boundary, interphase-interface may affect the strength or ductility of multilayered composites dramatically. However, the effect of the interface with mismatch dislocations on the mechanical behavior of multilayered composites is still not clear. In the present work, we performed molecular dynamics simulations to investigate the effect of interface structures and layer spacing on the mechanical properties of the Ti/Al nanolaminate. The results indicate that there are two transitions of the plastic deformation mechanism in the Ti layer with the increase of layer spacing in the sample with a coherent interface. The plastic deformation mechanism evolves from one that is dominated by dislocation to the phase transformation from the hcp-Ti to the fcc-Ti mode, which transfers to the dislocation slip deformation again. For the samples with an incoherent interface, the plastic deformation is dominated by the transformation from hcp-Ti to fcc-Ti, regardless of the variation of layer spacing, while the plastic deformations in the Al layers are mainly dislocations confined in the layer slip in the samples with both coherent and incoherent interfaces. When the layer spacing is larger than 6.6 nm, an obvious second hardening is observed due to the superior dislocation storage ability of the Ti/Al laminate with the incoherent interface. Meanwhile, extraordinary ductility is obtained when optimal layer spacing is employed in the Ti/Al laminate. Moreover, the phase transformation mechanism of hcp-Ti to bcc-Ti has also been explicated in the present work. The general conclusions derived from this work may provide a guideline for the design of high-performance Ti/Al multilayer and alloy devices.