A titanium alloy having excellent high-temperature oxidation and corrosion resistance is disclosed which comprises, by mass, Al: 0.30 1.50%, and Si: 0.10 1.0%. Preferably, amass ratio Si/Al is not less than 1/3. More preferably, the titanium alloy further comprises Nb: 0.1 0.5% by mass. The titanium alloy is useful as an exhaust system material for a vehicle or a motorbike, which enhances corrosion and high-temperature oxidation resistance, while utilizing inherent lightness and corrosion resistance of an original titanium alloy without impairing economy and workability.