Nb/Ti multilayers with different modulation periods were prepared by magnetron sputtering deposition. Microstructure and mechanical properties were investigated by XRD, SEM and Nanoindentation. It turns out that hardness of samples increases with decreasing modulation wavelength (Λ) and then dropped at small Λ. Through scrutinizing other results in literature, we found that the coherent stress rather than modulus mismatch played more important role for hardness enhancement with decreasing Λ of the bcc-hcp multilayers. Annealing of samples in low (or high) vacuum at 400 C for 30 min led to large (or medium) enhancement of hardness, while the modulated structure was still maintained. It was found that annealing in low vacuum resulted in oxygen penetration into the multilayers as revealed by auger electron spectroscopy, but hardly changed metallic sheet resistivity. XRD results suggested that some niobium oxides were formed in Nb layers and oxygen distributed interstitially in Ti layers. The large hardness enhancement after annealing is mainly due to the strengthening effect from dispersive distribution of nano-scale niobium oxides and interstitial oxygen in the multilayers. In addition, interfaces between adjacent layers were more distinct after annealing which indicated good thermal stability of laminated structure. Nb / Ti multilayers with different modulation periods were prepared by magnetron sputtering deposition. Microstructure and mechanical properties were investigated by XRD, SEM and Nanoindentation. It turns out that hardness of samples increases with decreasing modulation wavelength (Λ) and then dropped at small Λ. Through scrutinizing other results in literature, we found that the coherent stress rather than modulus mismatch played more important role for hardness enhancement with decreasing Λ of the bcc-hcp multilayers. Annealing of samples in low (or high) vacuum at 400 C for 30 min led was large (or medium) enhancement of hardness, while the modulated structure was still maintained. It was found in annealing in low vacuum induced oxygen by penetrating into the multilayers as revealed by auger electron spectroscopy, but kept changed metallic sheet resistivity. XRD results suggested that some niobium oxides were formed in Nb layers and oxygen distributed interstitially in Ti layer s. The large hardness enhancement after annealing is mainly due to the strengthening effect from dispersive distribution of nano-scale niobium oxides and interstitial oxygen in the multilayers. In addition, interfaces between adjacent layers were more distinct after annealing which indicated good thermal stability of laminated structure.