The evolution of structure and phase composition in titanium alloy VT18U under cooling from 900 - 1035°C is studied by the methods of light and electron microscopy, x-ray imaging, hardness measurement and measurement of the modulus of elasticity. The critical temperature of heating for quenching and the dependence of the volume fraction of the phases on this temperature are determined. The effect of the structural and phase state of the alloy quenched from different temperatures on the combination of its physical and mechanical properties (modulus of elasticity, hardness) is analyzed.