This study was purposed to develop a titanium alloy with low elastic modulus to be used as dental implant. The new titanium alloy was prepared as a binary alloy system by adding varying content of zirconium (Zr) into the Ti-XZr system alloy. For designing the new titanium alloy, two physical variables of bond order (Bo) and d-electron orbit energy level (Md) were varied. The mean bond order (Bo) was around 2.7931~2.8098, and the mean d-electron orbit energy level (Md ) was 2.4522~2.4795. The elastic modulus of the developed titanium alloy was 106.02~115.71 GPa. In the results of X-ray diffraction analysis, α-phase was observed in all the specimens. In TEM analysis, additional feature was identified for Ti-12Zr alloy in addition to the α-phase. The deformation twinning was observed in Ti-12Zr alloy.