The invention belongs to the technical field of titanium alloy material forming and relates to a titanium alloy rotary component and a shape correction method and forming method thereof. The shape correction method includes: preparing a titanium alloy rotary component blank; machining the inner surface of the titanium alloy rotary component blank to obtain a blank with an inner bore matched with adesigned shape; mounting a shape correction mould into the inner bore of the machined blank, wherein a gap is reserved between the shape correction mould and the blank, and the coefficient of thermalexpansion of a material of the shape correction mould is larger than that of titanium alloy; heating, subjecting the blank to shape correction according to a difference value of the coefficients of thermal expansion, cooling, removing the shape correction mould to obtain a shaped corrected titanium alloy rotary component blank. Component deformation can be controlled accurately and uniformly, dimensional accuracy is high after shape correction and reaches +/-0.2mm, and evident resilience is avoided.