In the present work, a β-Ti alloy (Ti–15V–3Sn–3Cr–3Al) was unidirectionally cold rolled to 80% thickness reduction, followed by recrystallization at two temperatures: (i) 1013 K and (ii) 1053 K. The microstructural developments were studied using light optical microscopy, scanning electron microscopy X-ray peak profile analysis, and electron backscattered diffraction. The bulk texture of deformed and fully recrystallized samples was studied using X-ray diffraction. The deformed microstructures showed the presence of high fraction of shear bands, and these bands were preferentially formed in γ-fiber grains than in the grains with other orientations. Cold rolled β-Ti alloy samples were fully recrystallized in 10 min at 1053 K and in 90 min at 1013 K. Strong α- and γ-fibers were formed after 80% cold rolling, while strong discontinuous γ-fiber (with very strong {111}〈112〉 component) was formed after complete recrystallization. Oriented nucleation was found to be the dominant mechanism for the development of recrystallization texture.