Mg-based metallic glass interpenetrating phase composites (IPCs) containing 30–70 vol% titanium was fabricated in this study. The effects of reinforced phase volume fraction and interspace on the mechanical properties were investigated systematically. With increasing the volume fraction of titanium, the fracture strength and strain increased up to 1860 MPa and 44%, respectively. The results showed that the critical volume fraction (around 40%) of Ti metal should be required for significantly improving plasticity of IPC. Decreasing the interspace of the titanium phase could lead to enhancement of yield and fracture strength. The deformation behavior and strengthening mechanisms were discussed in detail.