A novel short-process strategy for the synthesis of TiAl alloys was developed in this work, to achieve a potential cost reduction of 28.3 to 38.9%. Utilizing Mg ingots, Al ingots, and TiCl4 as the precursors, TiAl alloys with target compositions were prepared via a Mg-Al metal thermic reduction under the electromagnetic stirring condition. The obtained results indicate that the elemental distribution within both the TiAl alloy sponge and the cast ingots is relatively uniform. However, the TiAl alloy ingots exhibit a limited cold workability and high, non-uniformly distributed Brinell micro-hardness (HB). The average grain size is 136.37 μm, and there is a high proportion of high-angle grain boundaries (75.3%). Furthermore, the substantial local stress-strain concentrations are observed, accompanied by the complex lattice mismatches and defect structures, including the significant dislocations and twin structures. Finally, the mechanistic analysis of synthesis process based on Empirical Electron Theory (EET) and thermodynamic calculations aligns well with the experimental findings. This further validates the feasibility of this novel short process for advanced alloys manufacturing.