The results of studying the thermal conductivity and specific heat capacity of Zr-1 wt.% Nb and Ti-45 wt.% Nb in coarse-grained and ultrafine-grained states are presented. The influence of the utrafine-grained state on the thermo physical properties and the processes of dissipation and accumulation energy during deformation of the alloys are estimated. It is shown that formation of the ultrafine-grained state in the Zr-1 wt.% Nb alloy by abc -pressing and subsequent rolling leads to a decrease in its thermal conductivity and specific heat capacity by 10 and 20%, respectively, due to substructural hardening under severe plastic deformation. It is found that thermal conductivity and specific heat capacity of the ultrafine Ti-45 wt.% Nb alloy increase by 7.5 and 5%, respectively, due to dispersion hardening of the ω phase by nanoparticles and formation of a new α phase. It is established that the ultrafine-grained structure has a significant influence on the regularities of the dissipation and accumulation energy during plastic deformation, which in turn depend on their thermo-physical characteristics and on the structural and phase state.