The high-strength and ductile hypo-, hyper- and eutectic Ti-Fe alloys were formed in the shape of the arc-melted ingots with the dimensions of about 25-40 mm in diameter and 10-15 mm in height. The structure of the samples consists of cubic Pm3̄m TiFe and BCC Im 3̄ m β-Ti supersaturated solid solution phase. The arc-melted hypereutectic Ti65Fe35 alloy has a dispersed structure consisting of the primary TiFe phase and submicron-size eutectic structure. This alloy exhibits excellent mechanical properties: a Young's modulus of 149 GPa, a high mechanical fracture strength of 2.2 GPa, a 0.2 % yield strength of 1.8 GPa and 6.7 % ductility. The hard round-shaped intermetallic TiFe phase and the supersaturated β-Ti solid solution result in a high strength of the Ti65Fe35 alloy which in addition has much higher ductility compared to that of the nanostructured or glassy alloys. The reasons for the high ductility of the hypereutectic alloy are discussed.