The effect mechanism of electroshock treatment (EST) on microstructure evolution and mechanical property variations of Ti−8Al−1Mo−1V alloy was investigated. The results show that EST results in the phase transformation from the acicular secondary α_s to β phase. While the EST time is 0.12 s, the acicular martensitic phase (α_M) precipitates. The results of electron backscattered diffraction (EBSD) reveals that the average grain size decreases from 3.95 to 2.53 μm after EST, indicating that the grains are refined, and the significant recrystallization behavior and martensitic transformation occur. The orientation distribution reveals a more uniform distribution of texture, which is caused by the variation of crystal orientation after the phase transformation. The compression fracture behavior of materials indicates that EST significantly enhances the yield strength while reduces the fracture strain. The improvement of yield strength is mainly attributed to the precipitation of martensitic phase. All results indicate that EST is an effective approach for manipulating the microstructure and optimizing the texture distribution of titanium alloys.