Titanium alloys modified with boron additions are stronger, stiffer, and more processable than conventional titanium alloys. Among other techniques, conventional ingot metallurgy is considered as a viable way to expand usage of these advanced materials. In this paper, ingot melted Ti–6Al–4V–1.55B (the eutectic composition) was studied in the as-cast and thermomechanically processed conditions. The exact eutectic composition produced the highest possible content of TiB without formation of coarse primary borides that limit ductility. The goal was to develop an understanding of how the microstructure governs the properties of boron-modified titanium alloys. It was shown that solidification microstructure, the most important features of which are uniformity in distribution of TiB crystals, their morphology and directionality, is key to controlling the material’s final characteristics. It was concluded that the as-cast microstructure of boron-modified eutectic titanium alloy should be carefully controlled to provide enhanced performance for anticipated applications.