In this work Ti-Ta-Zr-Co alloy foams were produced by powder metallurgy based space holder method for biomedical applications. Ta was added for elastic modulus beta-Ti phase stabilization. Zr was added for corrosion resistance. Co addition was lowered the sintering temperature of the alloy provided easier machining and provided aging capacity. Metal powders were ball-milled to prepare the alloy. Carbamide was used as a pore former. Electrochemical anodization (oxidation) was carried out to improve the corrosion resistance and bioactivity of the alloy. Corrosion behaviour and semiconducting properties of the surface oxide film were investigated in artificial saliva. Defect types in the oxide were evaluated by using the Mott-Schottky analysis. Mechanical properties were also studed. Pore size of the samples replicated initial size of the pore former and the pore size of the samples was 500 μm which is suitable for implant applications.