This review examines the microstructural and mechanical properties of a Ti-6Al-4V alloy produced by wrought processing and powder metallurgy (PM), specifically laser powder bed fusion (LPBF) and hot isostatic pressing. Wrought methods, such as forging and rolling, create equiaxed alpha (α) and beta (β) grain structures with balanced properties, which are ideal for fatigue resistance. In contrast, PM methods, particularly LPBF, often yield a martensitic α′ structure with high microhardness, enabling complex geometries but requiring post-processing to improve its properties and reduce stress. The study evaluated the effects of processing parameters on grain size, phase distribution, and material characteristics, guiding the choice of fabrication techniques for optimizing Ti-6Al-4V performance in aerospace, biomedical, and automotive applications. The analysis emphasizes tailored processing to meet advanced engineering demands.