Titanium alloys are widely used in aerospace and automotive industries due to their excellent mechanical properties, however, the formability is limited, which is an issue during forming. In the present study, the effect of temperature and strain rate on the tensile properties of the titanium α-alloy KS1.2ASN was investigated. It was observed that there is initially no gain in ductility with increase in temperature until 400 °C, however, maximum formability is reached at maximum tested temperature of 600 °C. EBSD analysis revealed that twinning is the main deformation mechanism at room temperature, however, deformation becomes more pronounced with increasing temperature. An increase in strain rate leads to a decrease in elongation, but the influence is less pronounced compared to temperature.