Titanium alloy investment castings have the advantages of high specific strength, corrosion resistance and heat resistance, as well as the advantages of high dimensional accuracy and low production cost. They have been widely used in key structural parts in the aerospace field. In order to promote the continuous improvement of domestic titanium alloy investment casting technology and the further application of titanium alloy investment casting products, this paper reviewed the application and development of titanium alloy investment casting technology in the aerospace field in recent years. Meanwhile, the titanium alloy investment casting process, high-temperature casting titanium alloys and the development progress of titanium alloy investment casting products are highlighted. The review for investment casting process focused on the key procedures of wax mold making, shell making, casting and post treatments. The review for high-temperature casting titanium alloys highlighted TC4, high-temperature near-α titanium alloys and intermetallic titanium aluminide alloys. The review for titanium alloy investment casting products mainly referred to structural parts of aerospace vehicle engines. Finally, the key issues existing in the domestic titanium alloy investment casting technology and application are summarized. Subsequently, the prospects of establishing a material database, reducing production costs, and developing casting simulation software are proposed.