Two near-beta Ti-10V-3Fe-3Al and Ti-10V-2Fe-3Al alloys were produced by blended elemental powder metallurgy using hydrogenated titanium and V-Fe-Al master alloy powders. The distributions of the alloying elements were investigated at different stages of transformation of the heterogeneous powder compacts into the final homogeneous alloy product. The influence of iron content on chemical homogenization, densification, microstructure, and mechanical properties of as-sintered alloys was discussed with respect to the fast diffusion mobility of iron in titanium. It was concluded that a 1 pct increase in Fe content, as the alloying element with the fastest diffusivity in titanium, has a positive effect on densification. However, this also results in some grain coarsening of the final material. The attained mechanical properties were comparable with those of cast/wrought near-beta titanium alloys.