Owing to its good mechanical properties, enhanced wear resistance, good biological properties, biocompatibility, low cytotoxicity, and great corrosion behavior, Ti-Nb-Ta-Zr (TZNT) alloy, as new β titanium alloy, has attracted considerable attention for surgical implant applications. The need for the improvement of the implant properties in the physiological environment can be fulfilled by using the β titanium alloy with low elastic modulus. Additionally, this alloy can inhibit the surgical implant fracture, infection, inflammation, and the reaction of soft tissue with particulate debris. Therefore, the aim of this paper is to review the properties and applications of TZNT alloy as a promising choice for surgical implant applications.