The invention relates to a machining method for a metastable beta type titanium alloy TB16 cold rolled tube. The method includes blending raw materials of a TB16 titanium alloy, preparing a cast ingot, performing blooming forging, extruding a tube, performing sand blasting, performing acid washing, subjecting the tube to multi-pass rolling, subjecting a tube finished product to solution treatmentand ageing treatment, and other steps. Raw materials of the TB16 titanium alloy comprise 4.5-5.7 wt% of Mo, 4.5-5.7 wt% of V, 5.5-6.5 wt% of Cr, 2.5-3.5 wt% of Al, less than 0.30 wt% of Fe, less than0.05 wt% of C, less than 0.04 wt% of N, less than 0.015 wt% of H and less than 0.15 wt% of O, with the balance being titanium. The alloy has high tensile strength, toughness and good welding performance, and can be used in the fields of aviation, aerospace, oil, ships, chemical engineering, and the like.