A brief summary of historic developments of Ti₂AlNb alloy based on orthorhombic phase is presented first. Combined with the specific application background of Ti₂AlNb alloy, the research status and application of powder metallurgy (PM) Ti₂AlNb alloys in connection with near net shaping technology using hot isostatic pressing (HIP) are mainly reviewed. Key issues such as preparation of PM Ti₂AlNb alloys, powder densification during HIP, forming of complex components and hot workability of PM Ti₂AlNb alloy were discussed. Future research directions are suggested in the summary section. The bulk of the paper is concerned with progress made in the last 15 years, especially in the last decade.