A titanium alloy including by mass %, a platinum group metal: 0.01 to 0.15% and a rare earth metal: 0.001 to 0.10%, with the balance being Ti and impurities. The titanium alloy preferably includes as a partial replacement for Ti, Co: 0.05 to 1.00% by mass, and the content of the platinum group metal is preferably in the range of 0.01 to 0.05% by mass. Furthermore, it is preferred that the platinum group metal be Pd and the rare earth metal be Y. Consequently, it is possible to provide a titanium alloy having corrosion resistance comparable to or better than that of the conventional art as well as good workability while offering an economic advantage with a lower content of platinum group metal or an advantage of less likelihood of corrosion growth originating at defects such as flaws that occurred in the surface.