Three different microstructures of TC21 titanium alloys, including equiaxed, binary and lamellar microstructure, were obtained after different heattreatments. The effects of microstructure on the quasistatic and dynamic compression properties were studied and analyzed by using compression tests. The results showed that, different microstructure presented different quasistatic and dynamic compression performances. The equiaxed microstructure had a higher plasticity, but lower strength. Binary microstructure had a better strength, but poor plasticity. Lamellar microstructure had a relatively better plasticity and strength. At the strain rate about 1500~3200 s-1, the equiaxed microstructure had a lower flow stress, but higher dynamic plastic strain and impact resistance. Binary microstructure had a higher flow stress, but poor impact resistance. Lamellar microstructure showed higher flow stress and impact resistance, which indicated the lamellar microstructure had a better comprehensive performance in the three kinds of microstructure.