Titanium alloy is widely used as oil drill pipe material because of its light weight, high strength, good toughness, corrosion resistance, fatigue resistance, and good process performance. However, due to its low hardness, poor wear resistance, serious oxidation at high temperature (700 °C), and difficulty in lubrication, in oil and gas field exploration and development drilling, especially in deep wells, high displacement wells, horizontal wells, and highly deviated wells, wear and tear are prone to occur. The application and development of titanium alloys are greatly limited. This paper introduces the research status of the common surface modification technologies of titanium alloys, such as laser cladding, magnetron sputtering, plasma spraying, micro arc oxidation, etc. It points out the improvement effect of various modification technologies on the wear resistance and high-temperature oxidation resistance of titanium alloys and discusses the advantages and disadvantages of various modification technologies. A proposed method for enhancing the wear resistance and high-temperature oxidation resistance of titanium alloys was finally introduced, and its potential for future development was investigated.